Olema Pharmaceuticals, a clinical-stage biotech developing therapies for women's cancers, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Olema is focused on the discovery, development and commercialization of next generation targeted therapies for women’s cancers. The company is studying the structure and function of the estrogen receptor (ER), a key driver of breast cancer in approximately 75% of patients, in order to develop more potent, oral therapies that completely inactivate this signaling pathway. The lead product candidate, OP-1250, has combined activity as both a complete ER antagonist and a selective ER degrader and was initiated in an ongoing Phase 1/2 trial in August of this year, with initial data expected in the second half of 2021.
The San Francisco, CA-based company was founded in 2007 and plans to list on the Nasdaq under the symbol OLMA. Olema Pharmaceuticals filed confidentially on September 21, 2020. J.P. Morgan, Jefferies, Cowen and Canaccord Genuity are the joint bookrunners on the deal. No pricing terms were disclosed.
