After lining up an application for FDA approval of a new approach to treating fluid retention in heart failure patients a few months ago, Burlington, MA-based scPharmaceuticals is shooting for a $100 million IPO.
The biotech has developed a new formulation of furosemide so it could be delivered via a wearable device, rather than delivered through an IV in the hospital. The combo has the simple intention of reducing the number of days a patient has to be hospitalized for therapy — in a heart failure market that accounts for millions of patients — and the biotech has plans for more IV-replacement programs much like it.
The first NDA was field in August, according to the S-1.
Next in line are two antibiotics: scCeftriaxone, an antibiotic currently used intravenously for the treatment of infections caused by gram-positive and gram-negative organisms. And there’s another program for scCarbapenem.
The venture backed biotech had burned through close to $55 million through the end of last June.
Here are the venture groups with the biggest stakes in this biotech’s future: 5AM Ventures, which owns 23.2% of the company, Lundbeckfond, 22.6%, OrbiMed, 23% and Sun Pharmaceutical, 16%.
Biotech IPOs are going and blowing in Q4, offering a shot at some major financing events for drug and device makers.
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