A little-known biotech running low on cash looks to get its own $100M IPO from pandemic market
It’s been heady for biotechs breaking into a pandemic stock market: $233 million for ADC Therapeutics, $165 million for Zentalis, and $120 million for ORIC. Now a company that emerged from stealth just 8 months ago — and is now running low on cash — is trying to get in on the 9-figure game.
South San Francisco-based Applied Molecular Transport has filed for a $100 million IPO. Founded and led by longtime life sciences consultant Tahir Mahmood, the company builds oral drugs around a carrier molecule that can cross protective linings into the immune-cell heavy areas of the gut. They debuted in September, after they began dosing Phase I for their lead program, an ulcerative colitis drug that recently completed early testing in Eastern Europe.
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