Lirum Therapeutics, a Phase 1 biotech developing an in-licensed therapy for cancer and autoimmune diseases, filed on Monday with the SEC to raise up to $25 million in an initial public offering.
Lirum in-licensed its lead candidate, LX-101, from IGF Oncology in 2022. LX-101 is a novel, next generation, precision-engineered targeted therapy directed to the insulin-like growth factor-1 receptor (IGF-1R), which was previously evaluated by the licensor in Phase 1a trials in advanced, pretreated cancer. As a next step, Lirum plans to advance LX-101 through Phase 1b/2 trials in select oncology indications and Phase 1 trials in select thyroid eye disease indications.
The New York, NY-based company was founded in 2021 and plans to list on the Nasdaq under the symbol LRTX. ThinkEquity is the sole bookrunner on the deal. No pricing terms were disclosed.
