Aspen Neuroscience raises $140M IPO to advance Parkinson’s cell therapy

Aspen Neuroscience, a San Diego biotechnology company, completed an initial public offering, selling roughly 9.4 million shares at $15 each and raising about $140.6 million.

The capital will be directed toward advancing its Parkinson’s disease cell therapy, named sasineprocel, deeper into clinical testing.

The treatment is designed as a one-time therapy that converts a patient’s skin cells into stem-cell-derived precursors that mature into dopamine-producing neurons, aiming to address the loss of these cells that underlies Parkinson’s symptoms.

Aspen will debut on the exchange under the ticker “ASPE,” positioning the company to pursue its strategy of potentially slowing or halting neurodegeneration in Parkinson’s patients.