ALX Oncology Holdings, a Phase 1 immuno-oncology biotech developing CD47 pathway-blocking therapies, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The company's lead product candidate, ALX148, is a next-generation CD47 blocking therapeutic that is currently in a Phase 1b trial in combination with rituximab for non-Hodgkin's lymphoma. The company is planning to advance ALX148 into a Phase 1b/2 trial in combination with azacitidine for MDS by the end of 2020 and a Phase 1b/2 trial in combination with standard of care agents for acute myeloid leukemia in 2021.
The Burlingame, CA-based company was founded in 2015 and booked $4 million in related party revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol ALXO. ALX Oncology Holdings filed confidentially on May 5, 2020. Jefferies, Credit Suisse, Piper Sandler, and Cantor Fitzgerald are the joint bookrunners on the deal. No pricing terms were disclosed.
