Dynacure, a French Phase 1/2 biotech developing therapies for neuromuscular diseases, announced terms for its IPO on Monday.
The Illkirch-Graffenstaden, France-based company plans to raise $100 million by offering 6.3 million ADSs at a price range of $15 to $17. At the midpoint of the proposed range, Dynacure would command a fully diluted market value of $339 million.
Dynacure is initially focused on developing treatments for neuromuscular diseases, beginning with myotubular and centronuclear myopathies (CNM). Its lead candidate, DYN101, is an antisense oligonucleotide designed to be a disease-modifying medicine for treatment of the majority of CNM patients across multiple mutations in both adult and pediatric populations. The company is conducting a Phase 1/2 trial in Europe of DYN101, and intends to expand this trial to sites in the US in the 2H21. It expects to report interim pharmacokinetic and safety data in the 2H22 and final data in 2023.
Dynacure was founded in 2016 and plans to list on the Nasdaq under the symbol DYCU. J.P. Morgan, BofA Securities, and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of July 12, 2021.
