PaxMedica, a Phase 2 biotech developing therapies for neurodevelopmental disorders, filed on Thursday with the SEC to raise up to $17 million in an initial public offering.
The company's lead candidate PAX-101, an intravenous formulation of suramin, is currently in a Phase 2B clinical trial at six sites in South Africa for the treatment of autism spectrum disorder (ADS).
The Woodcliff Lake, NJ-based company was founded in 2018 and plans to list on the Nasdaq under the symbol PXMD. PaxMedica filed confidentially on May 15, 2020. The Benchmark Company is the sole bookrunner on the deal. No pricing terms were disclosed.
