Design Therapeutics, a preclinical biotech developing small molecule therapies for genetic diseases, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Design Therapeutics is a preclinical-stage biopharmaceutical company pioneering novel small-molecule therapeutic candidates, called gene targeted chimeras (GeneTACs), that are designed to be disease-modifying and target the underlying cause of inherited nucleotide repeat expansion diseases. The GeneTACs are designed to selectively bind to genetic repeat sequences, modulate gene expression either by restoring or blocking transcription, and restore cellular health. As a platform, the company believes that GeneTACs have broad applicability across monogenic nucleotide repeat expansion diseases. Design plans to initiate clinical trials with its lead product candidate in Friedreich ataxia patients to evaluate its safety, pharmacokinetics, and effect on frataxin
levels by the first half of 2022, subject to receiving regulatory clearance to proceed into clinical trials.
The Carlsbad, CA-based company was founded in 2017 and plans to list on the Nasdaq under the symbol DSGN. Design Therapeutics filed confidentially on January 26, 2021. Goldman Sachs, SVB Leerink and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.
