Francisco Salva, Azitra CEO

A small Con­necti­cut biotech throws hat in­to IPO ring

A biotech look­ing to treat skin dis­eases sent in word to the SEC that it wants to go pub­lic.

Az­i­tra joins a rel­a­tive­ly small group of biotechs seek­ing an IPO in the past few quar­ters, with on­ly a hand­ful go­ing pub­lic in re­cent mem­o­ry, in­clud­ing two on back-to-back Fri­days this month.

The biotech’s lead pro­gram is ATR-12, with a Phase Ib to start in the first half of this year for Nether­ton syn­drome, a rare au­to­so­mal dis­ease that is marked by in­flam­ma­tion, scal­ing, and red and de­hy­drat­ed skin that’s caused by mu­ta­tions in the SPINK5 gene. The com­pa­ny says there are about 20,000 pa­tients world­wide with the dis­ease and sees a $250 mil­lion peak sales op­por­tu­ni­ty. The tri­al is ex­pect­ed to read out in the first half of next year. The FDA has as­signed it pe­di­atric rare dis­ease des­ig­na­tion.

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