AnaptysBio Files for IPO

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AnaptysBio has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). No pricing details were given in the filing. The company intends to list its shares on the Nasdaq under the symbol ANAB.

The underwriters for the offering are Credit Suisse, Stifel, JMP Securities and Wedbush PacGrow.

This clinical stage biotechnology company develops first-in-class antibody product candidates focused on unmet medical needs in inflammation. The company develops its product candidates to emerging biological targets using its proprietary antibody discovery technology platform, which is based on a breakthrough understanding of the natural process of antibody generation, known as somatic hypermutation, and replicates this natural process of antibody generation in vitro.

AnaptsyBio’s strategy is to advance the development of its proprietary product candidates and, for certain programs, establish partnerships with leading biopharmaceutical companies in which it retains certain development and commercialization rights.

The company’s most advanced wholly owned antibody programs, ANB020 and ANB019, neutralize therapeutic targets that are genetically associated with severe inflammatory disorders in humans. ANB020 inhibits the activity of the interleukin-33, or IL-33, cytokine for the treatment of moderate-to-severe adult atopic dermatitis, severe adult peanut allergy and severe adult eosinophilic asthma. The company is currently conducting a Phase 1 trial of ANB020 in healthy volunteers in Australia under an approved Clinical Trial Notification (CTN).

ANB019 inhibits the interleukin-36, or IL-36R, receptor for the treatment of rare inflammatory diseases, including generalized pustular psoriasis (GPP) and palmo-plantar pustular psoriasis (PPP). It 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.

In addition to ANB020 and ANB019, AnaptysBio’s wholly owned pipeline includes novel checkpoint receptor agonist antibodies that it believes are applicable for treatment of certain autoimmune diseases where immune checkpoint receptors are insufficiently activated, and have demonstrated efficacy in an animal model of graft-versus-host disease.

The company intends to use the net proceeds from this offering to further develop its pipeline, with the remainder going toward working capital and general corporate purposes.