Graybug Vision, a Phase 2 biotech developing transformative medicines for ocular diseases, filed on Friday with the SEC to raise up to $86 million in an initial public offering.
The company's lead candidate, GB-102, is an intravitreal injection being developed as a once-every-six months treatment for wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME). In its Phase 1/2a trial, GB-102 was well-tolerated in wet AMD patients. GB-102 is currently in a Phase 2b trial for wet AMD, with topline data expected in the 1H21.
The Redwood City, CA-based company was founded in 2015 and plans to list on the Nasdaq under the symbol GRAY. Graybug Vision filed confidentially on July 31, 2020. SVB Leerink, Piper Sandler, Needham & Co. and Wedbush PacGrow are the joint bookrunners on the deal. No pricing terms were disclosed.
