Relay Therapeutics, a Phase 1 biotech developing small molecule therapies for solid tumors, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.
The company's lead candidate RLY-1971, an inhibitor of Src homology region 2 domain-containing phosphatase-2 (SHP2), began a Phase 1 trial in patients with advanced solid tumors in the 1Q 2020. Relay is also planning to begin a Phase 1 trial of RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), in patients with advanced solid tumors having oncogenic FGFR2 alterations in the 2H 2020.
The Cambridge, MA-based company was founded in 2015 and plans to list on the Nasdaq under the symbol RLAY. J.P. Morgan, Goldman Sachs, Cowen and Guggenheim Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
