Prelude Therapeutics, a Phase 1 biotech developing small molecule therapies for cancer, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The company's first clinical candidate, PRT543, is currently in a Phase 1 trial in select solid tumors and myeloid malignancies in patients who are refractory to or intolerant of established therapies. Interim Phase 1 results indicate dose-dependent increases in exposure and target engagement, and the company has observed early signs of clinical activity. The company expects clinical data in the 1H21.
The Wilmington, DE-based company was founded in 2016 and plans to list on the Nasdaq under the symbol PRLD. Prelude Therapeutics filed confidentially on July 23, 2020. Morgan Stanley, Goldman Sachs and BofA Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
