2 august biotech company Eliem Therapeutics, developing drugs for the treatment of disorders of nervous excitability in phase 2a research, announced the terms of the upcoming IPO.
Company headquartered in Redmond, Washington State, plans to attract 81 million dollars, releasing 4,5 million shares at a price from 17 to 19 Dollars. Taking into account the average price of the stated range, the total diluted market value of Eliem Therapeutics will be 464 million dollars.
Eliem specializes in the development of new drugs for the treatment of nervous excitability to meet unmarketable drug needs for chronic pain, mental illness, epilepsy and other disorders of the peripheral and central nervous systems. The company's two leading drug candidates include ETX-810, a new prodrug of palmitoylethanolamide, originally developed for the treatment of diabetic peripheral neuropathy (DPNP) and pain, associated with lumbosacral radiculopathy (LSR), and ETX-155, an allosteric GABAA-positive modulator, originally developed to treat an underlying depressive disorder (MDD), perimenopausal depression (PMD) and seizures with focal debut (FOS). ETX-810 passes two tests in phase 2a, results are expected in 1 Half 2022 of the year. The company also plans to begin two phase 2a trials of ETX-155 in patients with MDD and PMD., results are expected in 1 Half 2023 of the year.
Eliem Therapeutics was founded in 2018 year and plans to list on the stock exchange Nasdaq under the ticker ELYM. SVB Leerink became the joint organizers of the share issue, Evercore ISI, Stifel и Guggenheim Securities.
