AnaptysBio has filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). No information on the pricing has been released yet. The company intends to list on the Nasdaq Global Select Market under the symbol ANAB.
The underwriters for the offering are Credit Suisse, Stifel, JMP Securities and Wedbush PacGrow.
This biotechnology company develops first-in-class antibody product candidates focused on unmet medical needs in inflammation and immuno-oncology. AnaptysBio develops its product candidates using a proprietary antibody discovery technology platform called SHM-XEL, which is designed to replicate the natural process of antibody generation in vitro.
The platform is based on a breakthrough understanding of somatic hypermutation, the key biological process utilized by the human immune system to generate antibodies, which enables the company to rapidly develop highly functional antibody drug candidates against emerging biological targets. The most advanced, wholly owned antibody programs, ANB020 and ANB019, bind to therapeutic targets that are genetically associated with severe inflammatory disorders.
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ANB020 is an antibody that inhibits the activity of interleukin-33 for the treatment of severe adult asthma and severe adult peanut allergy. The company initiated dosing of ANB020 in a Phase 1 trial in Australia under an approved Clinical Trial Notification (CTN). ANB019 is an antibody that inhibits the interleukin-36 receptor for the treatment of rare inflammatory diseases called generalized pustular psoriasis (GPP) and palmo-plantar pustular psoriasis (PPP). AnaptysBio plans to submit a CTN for ANB019 by the end of 2016 and commence a Phase 1 clinical trial in the first half of 2017.
Through April 30, 2016, it had raised approximately $94.3 million from investors, including Biotechnology Value Fund, Cormorant Asset Management, Frazier Healthcare, HBM Partners, Longwood Capital Partners and Novo A/S.
In the filing the company further detailed:
In addition to our wholly-owned antibody programs, multiple AnaptysBio-developed antibody programs have been advanced under our collaborations to preclinical and clinical milestones. Our collaborations include an immuno-oncology-focused collaboration with TESARO, Inc. and TESARO Development, Ltd., or collectively, TESARO, and an inflammation-focused collaboration with Celgene Corporation, or Celgene. Under our TESARO collaboration, a Phase 1 trial was initiated during the first quarter of 2016 to study an AnaptysBio-generated anti-PD-1 antagonist antibody (TSR-042) in patients under an Investigational New Drug application, or IND, to the U.S. Food and Drug Administration, or FDA, and a second IND was submitted to the FDA during the second quarter of 2016 to enable future clinical trials for an AnaptysBio-generated anti-TIM-3 antagonist antibody (TSR-022). Including TSR-042 and TSR-022, we expect that our collaborators will advance four AnaptysBio-generated antibodies to the clinic by the end of the first half of 2017. Through April 30, 2016, we have received non-dilutive funding of $58.0 million from our collaborators.
The net proceeds from this offering are expected to be used to fund the development of the pipeline, as well as for working capital and general corporate purposes.
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