MBX Biosciences, a Phase 2 biotech developing precision peptides for endocrine and metabolic diseases, announced terms for its IPO on Monday.
The Carmel, IN-based company plans to raise $128 million by offering 8.5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, MBX Biosciences would command a fully diluted market value of $477.8 million.
Co-founder led MBX Biosciences is developing peptides that are selectively engineered to have optimized pharmaceutical properties, including extended time-action profiles and consistent drug concentrations with low peak-to-trough concentration ratios, consistent exposure to target tissues, and less frequent dosing. Its lead candidate, MBX 2109, is a parathyroid hormone peptide that is designed as a potential long-acting hormone replacement therapy for chronic hypoparathyroidism. The company dosed its first patient for its Phase 2 trial in August 2024.
MBX Biosciences was founded in 2018 and plans to list on the Nasdaq under the symbol MBX. J.P. Morgan, Jefferies, Stifel, and Guggenheim Securities are the joint bookrunners on the deal. It is expected to price the week of September 9, 2024.
