4DMT shoots for a $75M IPO, its sec­ond at­tempt to go pub­lic with its gene ther­a­py vec­tor pro­grams

Just a few months af­ter with­draw­ing its IPO fil­ing, 4D Mol­e­c­u­lar Ther­a­peu­tics is seek­ing to go pub­lic once again.

The Emeryville, CA-based com­pa­ny sub­mit­ted a new S-1 on Tues­day, de­tail­ing plans for a $75 mil­lion raise as it aims for the sec­ond time to hit the Nas­daq. 4DMT had pre­vi­ous­ly sought a $100 mil­lion IPO back in Sep­tem­ber 2019, but with­drew the fil­ing in Ju­ly of this year af­ter com­plet­ing a $75 mil­lion Se­ries C in June.

Should 4DMT com­plete the tran­si­tion to a pub­lic com­pa­ny this time around, they’ll join a crowd­ed IPO par­ty that’s last­ed near­ly the en­tire year.

Nas­daq head of health­care list­ings Jor­dan Saxe pro­vid­ed the most re­cent tal­ly for biotech IPOs in late Oc­to­ber, count­ing 72 com­pa­nies go­ing pub­lic at the time. Com­bined, those out­lets have raised rough­ly $13.2 bil­lion. The de­buts have slowed since the sum­mer, but Saxe pegged a “fair es­ti­mate” of 75 IPOs and just un­der $14 bil­lion in pro­ceeds to round out 2020.

Sev­er­al fac­tors have con­tributed to this year’s wave, Saxe pre­vi­ous­ly told End­points News, as the Covid-19 pan­dem­ic has high­light­ed in­no­va­tion and crossover in­vestors have steadi­ly in­creased biotech in­vest­ments in the sec­ond half of the 2010s. The pan­dem­ic econ­o­my has al­so made biotech com­pa­nies more ap­peal­ing giv­en that they’re less re­liant on quar­ter-to-quar­ter sales num­bers.

In the last four years, on­ly 2018 comes close in terms of the sheer amount of biotechs shoot­ing for Wall Street. That year’s tab to­taled 56 IPOs, ac­cord­ing to in­de­pen­dent an­a­lyst Brad Lon­car.

With­in the new S-1, 4DMT didn’t pro­vide too much de­tail about how much mon­ey they’d spend on each of their pro­grams. The com­pa­ny did list, how­ev­er, that on­go­ing clin­i­cal tri­als for their lead­ing pro­grams 4D-310 and 4D-125 would be their top pri­or­i­ty. Both of those can­di­dates are cur­rent­ly in Phase I/II with da­ta like­ly com­ing next year.

David Kirn

The main re­search dri­ving the com­pa­ny has been build­ing out a base of more than a bil­lion vec­tor cap­sid se­quences, which CEO David Kirn said in June need­ed years to take place. 4DMT need­ed that time to run the se­quences through non-hu­man pri­mates to see which shells were the least tox­ic and most like­ly to pre­vent an­ti­body re­sis­tance.

By do­ing so, the biotech hopes this screen­ing mod­el can help find the cap­sids most suit­able for the vec­tor de­liv­ery of gene ther­a­pies.

4DMT’s lead can­di­date, 4D-310, is in­tend­ed to treat Fab­ry dis­ease, with the goal of ini­tial­ly treat­ing ear­ly on­set ver­sions be­fore ex­pand­ing in­to se­vere, late-on­set pa­tients. 4D-125, mean­while, has the goal of treat­ing an in­her­it­ed vi­sion loss dis­or­der called XL­RP. Roche has part­nered with 4DMT to in-li­cense the pro­gram be­fore it be­gins a piv­otal tri­al.

The biotech is al­so con­duct­ing a Phase I study in 4D-110, which is tar­get­ed at pa­tients with choroi­deremia re­lat­ed to mu­ta­tions in the CHM gene.

Big Phar­ma's Twit­ter ex­o­dus; Mer­ck wa­gers $1.35B on buy­out; $3.5M gene ther­a­py; and more

Welcome back to Endpoints Weekly, your review of the week’s top biopharma headlines. Want this in your inbox every Saturday morning? Current Endpoints readers can visit their reader profile to add Endpoints Weekly. New to Endpoints? Sign up here.

As you start planning for #JPM23, we hope you will consider joining Endpoints News for our live and virtual events. For those who are celebrating Thanksgiving, we hope you are enjoying the long weekend with loved ones. And if you’re not — we’ll see you next week!

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 154,000+ biopharma pros reading Endpoints daily — and it's free.

Paul Perreault, CSL Behring CEO

CSL lands FDA ap­proval for he­mo­phil­ia B gene ther­a­py, sets $3.5M list price

The FDA has approved the world’s first gene therapy for hemophilia B, ushering into the market a treatment that’s historic in both what it promises to do and how much it will cost.

CSL will be marketing the drug, Hemgenix, at a list price of $3.5 million — which sets a new record for the most expensive single-use gene therapy in the US.

In a statement provided to Endpoints News, the Australian company noted that the current costs of treating people with moderate to severe hemophilia B can be significant over a lifetime. By some estimates, healthcare systems could spend more than $20 million per person.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 154,000+ biopharma pros reading Endpoints daily — and it's free.

Elon Musk (GDA via AP Images)

Biggest drug com­pa­nies halt­ed Twit­ter ad buys af­ter Lil­ly in­sulin spoof

Almost all of the drug industry’s biggest advertisers cut their spending on Twitter to zero or near-zero over the last two weeks amid worries about impersonation of their brands by pranksters and the future of the social media company.

Among 18 of the biggest pharmaceutical advertisers in the US market, 12 cut their Twitter ad spending to nothing for the week beginning Nov. 14, according to Pathmatics, which tracks data on prescription drug ad spending as well as general corporate advertising. The list of drugmakers cutting spending to zero includes Merck, AstraZeneca, Eli Lilly, Novartis, Pfizer and others.

Rob Davis, Merck CEO

Up­dat­ed: No Seagen here: 'Do more' means a small $1.35B pur­chase of Ima­go for Mer­ck

Merck is making an acquisition, the Big Pharma announced before Monday’s opening bell. No, Seagen is not entering the fold, as had been speculated for quarters.

Folding under Merck’s wings will be Pfizer-backed Imago BioSciences. For nearly a year, Merck CEO Rob Davis has been saying the pharma giant needs to “do more” on the business development front after its 2021 $11.5 billion acquisition of Acceleron.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 154,000+ biopharma pros reading Endpoints daily — and it's free.

Andrew Phillips, Nexo Therapeutics CEO

Scoop: Ver­sant, NEA launch new biotech helmed by ex-CEO of pro­tein de­grad­er C4 Ther­a­peu­tics

Long-time biotech venture firms Versant and New Enterprise Associates are backing a new startup run by former C4 Therapeutics chief executive Andrew Phillips.

The fledgling biotech has raised at least $30 million so far, according to paperwork filed with the SEC this week. The round could balloon to $60 million.

Phillips, who left protein degradation startup C4 in 2020 to be a managing director at Cormorant Asset Management, is running the show of the new venture as president, the SEC filing outlines. He also served as interim CEO of Cormorant-backed and Hansoh Pharmaceutical-partnered Blossom Bioscience last year.

Endpoints Premium

Premium subscription required

Unlock this article along with other benefits by subscribing to one of our paid plans.

Alzheimer’s drug bites the dust; Re­struc­ture, re­struc­ture, re­struc­ture; Land­mark di­a­betes OK; and more

Welcome back to Endpoints Weekly, your review of the week’s top biopharma headlines. Want this in your inbox every Saturday morning? Current Endpoints readers can visit their reader profile to add Endpoints Weekly. New to Endpoints? Sign up here.

Being in the news business can give one a warped sense of time — it feels like quite a while since we published some of these stories below. But next Saturday’s Endpoints Weekly will definitely be shorter, as we take off Thursday and Friday for Thanksgiving. We will still have the abbreviated edition in your inbox at the usual time.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 154,000+ biopharma pros reading Endpoints daily — and it's free.

Image: Shutterstock

MIT re­searchers re­veal DNA "Paste" tech be­hind lat­est gene edit­ing start­up

MIT scientists have developed a tool that they say can insert large gene sequences where they want in the genome.

In a paper published Thursday in Nature Biotechnology, MIT fellows Omar Abudayyeh, Jonathan Gootenberg and colleagues detail a technology they call PASTE, which they say can potentially be used to insert long strands of DNA and treat genetic diseases caused by many different mutations, such as cystic fibrosis and Leber congenital amaurosis, a rare eye disorder that causes blindness.

J&J's Spra­va­to pulls a PhI­II win against Sero­quel XR in treat­ment-re­sis­tant de­pres­sion

A day before Thanksgiving, J&J’s Janssen has a new cut of Phase III Spravato data to be grateful for.

The pharma giant announced on Wednesday that its nasal spray, also known as esketamine, beat extended-release quetiapine, previously sold by AstraZeneca as Seroquel XR, in treatment-resistant depression (TRD). Of 676 adults, a significantly higher number of patients on Spravato were able to achieve remission and avoid relapse after 32 weeks, according to J&J.

Dermavant Sciences' first consumer TV ad for its Vtama psoriasis med shows people ready for a new topical treatment.

Roivant’s Der­ma­vant de­buts first-ever TV com­mer­cial for pso­ri­a­sis cream Vta­ma

Dermavant Sciences has been marketing its first product, psoriasis med Vtama, to dermatologists for months, but on Tuesday it rolled out its first consumer campaign. The debut DTC effort including a streaming TV commercial encourages patients to a “Topical Uprising” in a nod to Vtama being a topical cream.

In the new commercial, a swell of people discards scarves and jacket coverings, gathering in the street to converge on a pharmacy to demand a steroid-free prescription. A moment of levity follows when a pharmacist says, “You know you can just talk to your doctor, right?” The gathered crowds collectively says, “Oh.”

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 154,000+ biopharma pros reading Endpoints daily — and it's free.