Aptinyx looks to bring its NMDA pipeline to Nasdaq, filing for an $80 million IPO
A day after Aptinyx closed an option deal with Allergan for a small molecule depression drug, the biotech handed in its S-1, penciling in an $80 million raise as it looks to join the IPO queue. If they make it, they will trade under the $APTX handle.
Run by CEO Norbert Riedel, Evanston, IL-based Aptinyx was spun out of the $1.7 billion buyout of Naurex — with $560 million in cash — which Allergan CEO Brent Saunders wanted for its lead NMDA drug aimed at major depression. That drug is now dubbed rapastinel, which won a breakthrough drug designation at the FDA.
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