The Biotech IPO Queue Grows Longer as Five More Companies File
Summary
The South San Francisco company is among the growing number of biotechs developing drugs to treat nonalcoholic steatohepatitis (NASH), a type of fatty liver disease that has no FDA-approved therapies. The company says it will use the IPO proceeds to finance Phase 1/2 studies of its lead drug, and continue development of its preclinical programs in other neurodegenerative disorders. The company has applied for a Nasdaq listing under the stock symbol “BBIO.” —Preclinical biotech Atreca set a preliminary $100 million target for its IPO, which it says will finance development of its cancer immunotherapies. The Redwood City, CA, company say its proprietary technology uses the immune system to guide researchers to discover pairs of antibodies and their targets. Atreca says it will use the IPO cash to fund development of its lead drug through Phase 1b testing in patients with solid tumors, and also continue work on other programs in its pipeline.
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