Theseus Pharmaceuticals, a preclinical biotech developing pan-variant kinase inhibitors for solid tumors, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.
Theseus is focused on the discovery, development, and commercialization of transformative targeted therapies. Its goal is to develop "pan-variant" kinase inhibitors, or inhibitors that target all major cancer causing and drug resistance mutations in clinically significant protein kinases. Its lead candidate, THE-630, is a pan-variant inhibitor of all major classes of activating and resistance mutations of the KIT kinase for the treatment of gastrointestinal stromal tumors (GIST). THE-630 is derived from intellectual property exclusively licensed to Theseus by ARIAD Pharmaceuticals. The company plans to submit an IND application in the 4Q21 for patients with advanced GIST whose disease has developed resistance to prior KIT-targeting therapies.
The Cambridge, MA-based company was founded in 2017 and plans to list on the Nasdaq under the symbol THRX. Theseus Pharmaceuticals filed confidentially on July 20, 2021. Jefferies, SVB Leerink, and Cantor Fitzgerald are the joint bookrunners on the deal. No pricing terms were disclosed.
