Vera Therapeutics, a Phase 2b biotech developing fusion proteins for immunological diseases, filed on Friday with the SEC to raise up to $86 million in an initial public offering.
Vera's lead candidate is atacicept, a fusion protein self-administered as a subcutaneous injection once weekly that blocks both B lymphocyte stimulator and a proliferation-inducing ligand, which stimulate B cells and plasma cells to produce autoantibodies contributing to certain autoimmune diseases. The company plans to initiate a Phase 2b trial of atacicept in patients with immunoglobulin A nephropathy, a serious and progressive autoimmune disease of the kidney, in the 2Q21, with topline results expected in the 4Q22.
The South San Francisco, CA-based company was founded in 2016 and plans to list on the Nasdaq under the symbol VERA. Vera Therapeutics filed confidentially on March 19, 2021. Jefferies, Cowen and Evercore ISI are the joint bookrunners on the deal. No pricing terms were disclosed.
