Septerna, a Phase 1 biotech targeting GPCRs in multiple therapeutic areas, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.
Septerna is developing orally-available small molecule drugs targeting G protein-coupled receptors (GPCRs). The company's lead and sole clinical-stage program is SEP-786, a small molecule parathyroid hormone 1 receptor (PTH1R) agonist currently enrolling in a Phase 1 trial in patients with the rare endocrine disease hypoparathyroidism, with topline data expected in mid-2025. The company is also developing, SEP-631, a MRGPRX2 negative allosteric modulator (NAM) for the treatment of chronic spontaneous urticaria (CSU) that is currently conducting IND-enabling studies, as well as preclinical programs in thyroid and metabolic diseases.
The South San Francisco, CA-based company was founded in 2019 and plans to list on the Nasdaq under the symbol SEPN. J.P. Morgan, TD Cowen, Cantor Fitzgerald, and Wells Fargo Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
