Raymond Stevens, Structure Therapeutics CEO

Be­hind Fri­day's $161M IPO: A star sci­en­tist, GPCR drug dis­cov­ery and a plan to chal­lenge phar­ma in di­a­betes

What does it take to pull off a $161 mil­lion biotech IPO these days?

In Struc­ture Ther­a­peu­tics’ case, it means hav­ing a star sci­en­tist co-founder paired with the com­pu­ta­tion­al drug dis­cov­ery com­pa­ny Schrödinger, $198 mil­lion in pri­vate fund­ing from blue-chip in­vestors, al­most six years of re­search work on G pro­tein-cou­pled re­cep­tors and a slate of oral, small-mol­e­cule drugs, with an eye on the huge and grow­ing di­a­betes and weight-loss mar­ket.

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