Inozyme Pharma, a preclinical biotech developing therapies for diseases of abnormal mineralization, filed on Thursday with the SEC to raise up to $86 million in an initial public offering.
The company's lead candidate, INZ-701, is a soluble, genetically engineered fusion protein that is designed to correct a defect in the mineralization pathway caused by ENPP1 and ABCC6 deficiencies. The company plans to file an IND with the FDA and CTAs with regulatory authorities in Europe for INZ-701 in the 2H20, and plans to begin two Phase 1/2 clinical trials after.
The Boston, MA-based company was founded in 2015 and plans to list on the Nasdaq under the symbol INZY. Inozyme Pharma filed confidentially on May 8, 2020. BofA Securities, Cowen and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.
