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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