City Therapeutics raises $200 million in IPO to fund next-gen RNAi programs
City Therapeutics, a biotech focused on RNA interference, completed a $200 million initial public offering, selling about 11.1 million shares at $18 each.
The proceeds will back three drug candidates that are in or approaching clinical testing, as well as earlier-stage research aimed at delivering RNAi therapies to tissues beyond the liver.
Co-founded by former Alnylam CEO John Maraganore, City joins a wave of companies expanding RNAi beyond rare liver diseases toward more common conditions and other organs such as the brain and lungs.
The company will begin trading on Nasdaq under the ticker CTY on Friday.
This writeup was produced by pharmadog from original reporting by BioPharma Dive.
Original headline: “Next-gen RNAi drugmaker City prices $200M IPO”
read at BioPharma Dive ↗
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