Sept 9 (Askume) – MBX Biosciences, which is developing peptide therapies to treat endocrine and metabolic disorders including obesity, said on Monday it was seeking a valuation of up to $482.5 million in a U.S. initial public offering.
Why is this important?
A weight-loss drug maker has attracted investor attention and backing from venture capital giants after its drug proved effective in treating obesity.
Wall Street estimates that annual global sales of diet pills will reach $150 billion by the early 2030s.
MBX is developing treatments for endocrine and metabolic disorders, including diabetes and obesity.
Last week, BioAge Labs, a new startup focused on treating obesity, also filed to go public .
situation
The biotech’s lead experimental drug candidate, MBX2109, is being developed to treat chronic hypoparathyroidism, a condition in which the body produces insufficient levels of parathyroid hormone, disrupting calcium levels in the blood and bones.
MBX2109 is currently in a mid-stage study, and the company said it expects to report trial data next year.
The company is also developing MBX4291, an experimental treatment for obesity. The therapy mimics the effects of two gut hormones, GLP-1 and GIP, and is currently in preclinical development.
Eli Lilly and Co’s LLY.N tezepetide, sold in the United States as the weight-loss drug Zepabound and the diabetes drug Monjaro, also mimics the function of these two gut hormones.
A month ago, MBX raised $63.5 million in a funding round led by investment firm Deep Track Capital.
From a numerical point of view
MBX aims to raise up to $136 million through an offering of 8.5 million shares at a price range of $14 to $16 per share.
what will happen next
MBX will be listed on the Nasdaq Global Select Market under the symbol “MBX”.
J.P. Morgan, Jefferies, Stifel and Guggenheim Securities are the underwriters of the offering.
