Boundless Bio, a Phase 1 biotech developing inhibitor therapies for oncogene amplified tumors, raised $100 million by offering 6.3 million shares at $16, within the range of $15 to $17.
Boundless Bio is focused on developing therapies for oncogene amplified tumors by targeting extrachromosomal DNA (ecDNA). Using its proprietary Spyglass platform, the company identifies targets essential for ecDNA functionality in oncogene amplified cancer cells, then designs and develops small molecule drugs called ecDNA-directed therapeutic candidates (ecDTx) to inhibit those targets. Its lead ecDTx, BBI-355, is a novel, oral, selective inhibitor of checkpoint kinase 1, which manages ecDNA replication and transcription in cancer cells. BBI-355 is currently being studied in a first-in-human, Phase 1/2 trial in patients with oncogene amplified cancers, with preliminary data expected in the 2H24.
Boundless Bio plans to list on the Nasdaq under the symbol BOLD. Goldman Sachs, Leerink Partners, Piper Sandler, and Guggenheim Securities acted as joint bookrunners on the deal.
