Telomir Pharmaceuticals, a preclinical biotech developing an oral small molecule for age- and cancer-related conditions, announced terms for its IPO on Thursday.
The Baltimore, MD-based company plans to raise $7 million by offering 1 million shares at $7. At the proposed price, Telomir Pharmaceuticals would command a fully diluted market value of $215 million. The IPO float is just 3.4% of basic shares outstanding.
Telomir Pharmaceuticals is focused on the development and commercialization of TELOMIR-1, a novel small molecule being developed to function as an oral in situ therapy for human stem cells. Based on its preclinical studies, the company believes that TELOMIR-1 may potentially serve as a metal enzyme inhibitor of essential metals such as zinc and copper. Telomir's initial focus will be on treatments to inhibit the production of pro-inflammatory cytokines, with a goal of advancing TELOMIR-1 in the US for the treatment of age-related inflammatory conditions such as hemochromatosis and osteoarthritis, as well as in post-chemotherapy recovery.
Telomir Pharmaceuticals was founded in 2021 and plans to list on the Nasdaq under the symbol TELO. Kingswood Capital Markets is the sole bookrunner on the deal.
