Metacrine, a Phase 1 biotech developing FXR agonist therapies for NASH, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
The company's pipeline contains lead candidate MET409, a potent and sustained FXR agonist with the ability to be dosed orally once daily. MET409 demonstrated notable reductions in liver fat and improvements in other NASH biomarkers and was generally well tolerated in its Phase 1b trial as a monotherapy. The company plans to submit an IND in the 4Q20 and initiate a Phase 2a combination trial in the 1H21, with topline data expected in the 1H22.
The San Diego, CA-based company was founded in 2014 and plans to list on the Nasdaq under the symbol MTCR. Metacrine filed confidentially on July 12, 2018. Jefferies, Evercore ISI and RBC Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
