Nuvalent, a preclinical oncology biotech developing small molecule kinase inhibitors, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.
Nuvalent focuses on clinically proven kinase targets that have demonstrated efficacy and received FDA approval. It seeks to improve upon the limitations of existing kinase inhibitors, including kinase resistance, selectivity, and limited brain penetrance. The company's lead product, NVL-520, is a brain-penetrant ROS1-selective inhibitor and is expected to begin clinical trials in patients with ROS1-positive non-small cell lung cancer and other advanced solid tumors in the second half of 2021, pending the acceptance of its IND.
The Cambridge, MA-based company was founded in 2017 and plans to list on the Nasdaq under the symbol NUVL. Nuvalent filed confidentially on May 28, 2021. J.P. Morgan, Cowen, and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.
