Design Therapeutics, a preclinical biotech developing small molecule therapies for genetic diseases, announced terms for its IPO on Monday.
The Carlsbad, CA-based company plans to raise $228 million by offering 12 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Design Therapeutics would command a fully diluted market value of $1.1 billion.
Design Therapeutics is developing novel small-molecule therapies, called gene targeted chimeras (GeneTACs), that are designed to be disease-modifying and target the underlying cause of inherited nucleotide repeat expansion diseases. Design plans to evaluate its lead candidate in trials with Friedreich ataxia patients by the 1H22, subject to receiving regulatory clearance.
Design Therapeutics was founded in 2017 and plans to list on the Nasdaq under the symbol DSGN. Goldman Sachs, SVB Leerink and Piper Sandler are the joint bookrunners on the deal.
