Design Therapeutics, a preclinical biotech developing small molecule therapies for genetic diseases, raised $240 million by offering 12 million shares at $20, the high end of the range of $18 to $20.
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 plans to list on the Nasdaq under the symbol DSGN. Goldman Sachs, SVB Leerink and Piper Sandler acted as lead managers on the deal.
