Gain Therapeutics, a preclinical biotech developing small molecule therapies for lysosomal storage disorders, announced terms for its IPO on Wednesday.
The Bethesda, MD-based company plans to raise $40 million by offering 3.6 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Gain Therapeutics would command a fully diluted market value of $129 million.
Gain Therapeutics is developing novel therapies to treat diseases caused by protein misfolding, with an initial focus on lysosomal storage disorders. The company has identified and filed three patent applications and one provisional patent application for its novel Structurally Targeted Allosteric Regulators (STARs). Gain expects to obtain additional preclinical data and commence IND-enabling studies for lead compound candidates beginning in 2021.
Gain Therapeutics was founded in 2017 and plans to list on the Nasdaq under the symbol GANX. BTIG and Oppenheimer & Co. are the joint bookrunners on the deal.
