Two biotechs hunt $175 million in Nasdaq pursuit; Keryx CEO Gregory Madison abruptly resigns; RxCelerate buys bioanalytical CRO
→ Less than four months after reaping $47 million in Series C financing, Scholar Rock is out for a $75 million IPO. The Cambridge, MA-based company will be focused on preparing its lead program for spinal muscular atrophy, SRK-015, for a planned IND filing in the coming weeks and discovering an additional indication for the drug by the second half of next year. Unlike rivals such as Novartis and Roche/Biogen, Scholar Rock’s drug inhibits latent, not active, myostatin. In doing so, the treatment aims to boost muscle mass and strength in SMA patients. The money will also go toward other preclinical R&D activities, pursuing other targets from TGFβ1 to BMP6. Scholar Rock plans to list on Nasdaq under the symbol $SRRK.
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