Biomea Fusion, a preclinical biotech developing small molecule therapies for genetically defined cancers, raised $153 million by offering 9 million shares at $17, the high end of the range of $15 to $17. The company offered 1.5 million more shares than anticipated.
Biomea is focused on the development of irreversible small molecule drugs to treat patients with genetically defined cancers. Its lead candidate, BMF-219, is an orally bioavailable, potent, and selective irreversible inhibitor of menin being developed for the treatment of liquid and solid tumors. The company is currently completing IND-enabling studies and expects to file an IND in the 2H21.
Biomea Fusion plans to list on the Nasdaq under the symbol BMEA. J.P. Morgan, Jefferies and Piper Sandler acted as lead managers on the deal.
