Acesis Holdings, a preclinical biotech developing non-hormonal oral therapies for low testosterone in men, filed on Friday with the SEC to raise up to $7 million in an initial public offering.
The Lone Tree, CO-based company plans to raise $7 million by offering 1.3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Acesis Holdings would command a market value of $81 million.
Acesis is focused on developing novel treatments for male hypogonadism, or low testosterone levels in males (Low-T), using non-hormonal, orally administered peptide therapeutics. The company's lead peptide, ACE-167, has been designed to act through a novel molecular mechanism to induce the Leydig cells of the testis to synthesize testosterone thereby restoring endogenous T production. Acesis expects to use a portion of the IPO proceeds for development activities so that ACE-167 can transition to FIM Phase 1 trials within 24 months from the completion of the offering.
Acesis Holdings was founded in 2015 and plans to list on the Nasdaq under the symbol ACSB. The company filed confidentially on February 10, 2023. Boustead Securities is the sole bookrunner on the deal.
