Sage Therapeutics, which is developing treatments for life-threatening seizures, filed on Tuesday with the SEC to raise up to $69 million in an initial public offering. Each year, an estimated 30,000 patients die of status epilepticus, a condition where the brain is in a state of persistent seizure. Another biotech developing treatments for epilepsy, Marinus Pharmaceuticals (MRNS), filed for a $63 million IPO in May.
The Cambridge, MA-based company, which was founded in 2010, plans to list on the NASDAQ under the symbol SAGE. Sage Therapeutics initially filed confidentially on March 28, 2014. J.P. Morgan and Goldman Sachs are the joint bookrunners on the deal. No pricing terms were disclosed.
