Aeglea BioTherapeutics, a preclinical biotech developing enzymes for rare genetic metabolic diseases and tumors, filed on Tuesday with the SEC to raise up to $86 million in an initial public offering.
Close peer Agios Pharmaceuticals (AGIO) went public in July 2013 with preclinical data; it popped 74% on its first day a now trades 395% above its offer price, commanding a market cap of more than $3 billion.
The Austin, TX-based company, which was founded in 2013, plans to list on the Nasdaq under the symbol AGLE. Aeglea BioTherapeutics initially filed confidentially on May 6, 2015. Cowen & Company, UBS Investment Bank and BMO Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
