Mineralys Therapeutics, a US-based clinical-stage biopharmaceutical company, completed last Friday a $192m initial public offering (IPO) on the Nasdaq Global Select Market at $16.00 per share.
The share price rose to $18.44 (+15.25%) at the closing on its first day of trading.
Mineralys is a clinical-stage biopharmaceutical company focused on developing medicines to target diseases driven by abnormally elevated aldosterone. Its initial product candidate, lorundrostat, is a proprietary, orally administered, highly selective aldosterone synthase inhibitor that Mineralys is initially developing for the treatment of patients with uncontrolled hypertension. The company has completed a Phase 2 study in uncontrolled and resistant hypertension and has announced positive results in November 2022.
The IPO financing will support the company to advance its pivotal program in uncontrolled hypertension in the United States.
Mineralys Therapeutics, Inc., a private, clinical-stage biopharmaceutical company committed to developing a best-in-class, novel therapy for the treatment of hypertension, today announced the completion of an oversubscribed and up-sized $118 million Series B financing.
Mineralys plans to use the proceeds to continue to advance MLS-101, a highly selective aldosterone synthase inhibitor. MLS-101 is currently being evaluated in a Phase 2 clinical trial, called Target-HTN, for patients with uncontrolled hypertension. The Company anticipates releasing the top-line results of Target-HTN later this year.
In June 2022, Mineralys Therapeutics had closed a $118m Series B financing. The round was led by RA Capital Management and Andera Partners. Additional new investors included RTW Investments, Rock Springs Capital, SR One Capital Management, Sectoral Asset Management, Ysios Capital, HealthCor Management and Boulder Ventures. Existing investors, including founding investment firm Catalys Pacific, Samsara BioCapital, HBM Healthcare Investments and Adams Street Partners had also participated.
FinSMEs
14/02/2023