Talaris Therapeutics, a Phase 3 biotech developing methods for allogeneic hematopoietic stem cell transplantation, announced terms for its IPO on Monday.
The Louisville, KY-based company plans to raise $150 million by offering 8.8 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Talaris Therapeutics would command a fully diluted market value of $736 million.
Talaris' initial focus is a proprietary therapeutic approach called Facilitated Allo-HSCT Therapy that could prevent organ rejection without the morbidity and mortality that has been associated with the use of lifelong anti-rejection medicines. Its lead candidate, FCR001, is a novel allogeneic cell therapy comprised of stem and immune cells that are procured from a healthy donor, who is also the organ donor in the case of organ transplantation. The company is currently enrolling patients in a randomized, controlled, open-label Phase 3 registration trial in the US of FCR001 in 120 adult living donor kidney transplant recipients.
Talaris Therapeutics was founded in 2002 and plans to list on the Nasdaq under the symbol TALS. Morgan Stanley, SVB Leerink, Evercore ISI and Guggenheim Securities are the joint bookrunners on the deal. It is expected to price during the week of May 3, 2021.
