Rezera targets $181 million IPO to fund phase-3 trial of NLRP3 inhibitor for peripheral artery disease

Boston-based biotech Rezera, which rebranded from NodThera last September, said it will seek an initial public offering to raise about $181 million. The proceeds are intended to move its brain-penetrant NLRP3 inhibitor ruvonoflast into a phase-3 study.

The company filed with the SEC to sell 16.7 million shares at $11-$13 each. If the offering lands in the middle of that range, net proceeds would be $181 million, rising to roughly $209 million if underwriters purchase an extra 2.5 million shares.

Funding will support a phase-3 trial of ruvonoflast in peripheral artery disease, a form of atherosclerotic cardiovascular disease, with results expected in 2028. Earlier phase-2 data combined ruvonoflast with semaglutide, Novo’s Wegovy ingredient, showed promising anti-inflammatory effects in obese patients.