Aileron Therapeutics files for a $69M IPO as new offerings heat up

Joseph Yanchik, Aerilon

Aileron Therapeutics has set out to raise $69 million in the latest biotech IPO to hit the street.

Their lead drug — ALRN-6924 — is focused on p53, a familiar and very frustrating target in the cancer R&D world. Still in early studies, Aileron has gathered a collection of initial patient responses to the drug, which targets MDMX and MDM2.

Aileron has had a low profile for the last few years. It’s jumping into the IPO queue now after a growing lineup of drug developers have sought investors’ embrace, with varying but generally positive results.

The biggest shareholder in the Cambridge, MA-based biotech is Apple Tree Partners, with 22.4% of the stock. Novartis BioVentures comes in a close second with 21%. CEO Joseph Yanchik, meanwhile, has a 4% stake.

The best place to read Endpoints News? In your inbox.

Comprehensive daily news report for those who discover, develop, and market drugs. Join 47,400+ biopharma pros who read Endpoints News by email every day.

Free Subscription

Research Scientist - Immunology
Recursion Pharmaceuticals Salt Lake City, UT
Director of Operations
Atlas Venture Cambridge, MA

Visit Endpoints Careers ->