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美国生物医药公司CymaBay将登陆纳斯达克进行IPO

来源:生物谷 2014-04-10 11:42

2014年4月10日讯 /生物谷BIOON/ --美国小型生物医药公司CymaBay最近透露公司将在纳斯达克上市以募集总额达3000万美元的研究经费。根据公司的S-1报告,公司自成立以来已经花费了3亿5千万美元,而其中一大部分都用于其二型糖尿病新药MBX-2982以及痛风药物的临床研究。另外公司还拥有一种治疗代谢紊乱的药物MBX-8025也处于临床研究阶段。

CymaBay公司的前身是Metabolex,公司曾于强生公司和赛诺菲都开展过不同程度的合作。此前,CymaBay在去年12月已经获得了3300万美元的风投,此次公司进行IPO也引起了市场的注意。因为这个月以来,生物技术公司的IPO势头明显放缓,分析人士普遍预计今后生物技术IPO的门槛将不断升高,此次CymaBay公司进行的较小规模IPO无疑是检验华尔街投资者对生物医药企业融资的一个试金石。(生物谷Bioon.com)

详细英文报道:

Three years ago, Sanofi ($SNY) walked away from a $375 million diabetes partnership with Metabolex, which had just salved the wound with a new pact with Johnson & Johnson ($JNJ). Now, operating under a new name--CymaBay--and armed with a fresh $38 million raise from late last year, the small biotech is floating plans for a $30 million IPO, looking to cash in on the lingering biotech boom.

According to its S-1, CymaBay has burned through $349 million since its founding. And it has made gout the prime focus in a lead program for a mid-stage drug headed into a Phase IIb study.

The lead drug, dubbed arhalofenate, is an anti-inflammatory uricosuric therapy designed to reduce the risk of painful gout flareups. The biotech also has MBX-2982 in mid-stage development for Type 2 diabetes, targeting the G protein-coupled receptor 119. And CymaBay got the rights to its third pipeline drug, MBX-8025, which targets deficits in lipid storage, handling and utilization that trigger metabolic disorders, from J&J back in 2006. The biotech forged a $228 million development deal with J&J on diabetes that has yet to pay off on any milestones, according to the S-1. And now it's considering 8025's potential for rare diseases, including homozygous familial hypercholestorolemia.

Just last December, CymaBay--which has a full-time staff of 15 in the San Francisco Bay area augmented with the help of some consultants--said it had raised $33 million through the sale of stock along with $5 million in venture debt from Oxford Finance and Silicon Valley Bank. The other investors weren't named in the release. The refinancing and renaming of the biotech was completed as the company moved to Newark, CA, south of Oakland.

The company has been helmed by longtime CEO Harold Van Wart, a Roche ($RHHBY) veteran and former academic. Alta BioPharma owns an 11% stake in the company, the same amount held by Versant Ventures.

CymaBay's arrival with a small IPO may test investors' appetite for new biotech offerings at an unsettling moment. Biotech stocks have suffered a serious correction in recent weeks, and there are signs that the larger IPO window may be starting to close on Wall Street. A fund mounted by Renaissance Capital to track the performance of new offerings is down 2% for the year, reflecting a major drop.

"The sound of that drop is the sound of the I.P.O. window starting to close," Kathleen Smith, a principal of Renaissance Capital, told The New York Times. "It's not going to close all the way, but it's going to get more selective."

 

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