Five Life Sciences Companies Ramping up the Fall Flood of IPOs
Experts are predicting a record-breaking rush of IPOs this fall as companies flood to the Nasdaq. Here’s who’s ready to go public in the life science industry today.
Driven by the power of AI, the U.K.’s Exscientia is a pioneer in automated drug design. With three AI-designed candidates making history as the first to enter human clinical trials, the company is ready to leave VC funding behind and hit the open market. Exscientia filed for a U.S. IPO with SEC Friday, utilizing the popular $100 million placeholder.
The Oxford-based company’s lead candidate, EXS21546, was developed internally and launched into a Phase I trial in December of last year. Two co-developed drugs are also in Phase I with partner Sumitomo Dainippon Pharma. With multiple collaborations at work, the company has more than 25 projects going on right now.
Filing with a more modest raise in mind, Cingulate also submitted its IPO plans to the SEC, citing a $58 million raise. Laser-focused on ADHD, the company has a Phase III candidate ready to roll in both adult and pediatric ADHD indications and another ready to initiate its clinical program soon. Cingulate’s drugs boast in its Precision Timed Release drug delivery platform that gives patients both fast-acting and long-lasting (up to 16 hours) treatment to avoid the “crash” current ADHD medications typically cause.
Another candidate is slated to begin in-human trials to treat anxiety disorders later this year. The drug contains a widely used anxiolytic agent that patients currently have to take several times a day. Cingulate’s approach will be designed as a once-daily, multi-release tablet to relieve patients with just one daily dose.
PROCEPT BioRobotics has the world’s first autonomous surgical robot to treat enlarged prostate, a common condition that develops as men age. It’s now ready to hit the Nasdaq with terms of offering 5.5 million shares priced between $22 and $24, hoping to snag from $121 to $132 million.
PROCEPT’s minimally invasive Aquablation therapy uses its AquaBeam Robotic System for treating benign prostate hyperplasia. BPH is the most common prostate disorder affecting upward of 40 million men in the U.S. According to Seeking Alpha, the company is “targeting 860 high-volume hospitals which account for 70% of all hospital-based resective procedures” for the sale of its AquaBeam System.
After scooping up a $106 million Series B round this spring, Tyra Biosciences is targeting a larger pool of investors on the market. Filing for its chance at a $100 million IPO or more, Tyra’s SNAP platform targets the resistance problem cancer patients often acquire during treatment. Mutated tumors find a way around the otherwise effective therapies to continue to grow.
The SNAP platform accelerates drug discovery using “SNAPshots,” a technology that allows researchers to see how each potential drug interacts with its targets. Its lead program, TYRA-300, is expected in the clinic by the middle of next year, targeting various cancers, including bladder cancer.
Rolling for a $160 million raise, Dice has filed for its Nasdaq debut, with 10 million shares being offered around the $16 apiece mark. Currently, Dice’s candidates are still in preclinical phases with its lead molecule headed to Phase I. S011806 is indicated for psoriasis first, with other IL-17 mediated chronic immunology indications in the works. Psoriasis is a common condition and, therefore, a huge, although crowded, market.
Dice has already scooped up $140 million this year in Series C financing rounds. With candidates all in preclinical stages, the stock will be considered high risk.