Curanex Pharmaceuticals, a preclinical biopharma developing botanical-based treatments for various diseases, filed on Wednesday with the SEC to raise up to $10 million in an initial public offering.
The company filed to offer 2 million shares at a price range of $4 to $6. At the proposed midpoint, Curanex would command a fully diluted market value of $210 million.
Curanex is developing its lead drug candidate, Phyto-N, which is a proprietary botanical extract with chemical components and pharmacological activities which enhance its anti-inflammatory properties. With an active ingredient derived from traditional Chinese medicine, Curanex plans to submit an IND to begin trials of Phyto-N in 2025. The company also plans to pursue Phyto-N in atopic dermatitis, diabetes, nonalcoholic fatty liver disease (NAFLD), gout, and acne.
The Jericho, NY-based company was founded in 2018 and plans to list on the Nasdaq under the symbol CURX. Dominari Securities and Revere Securities are the joint bookrunners on the deal.
