Nuvectis Pharma, a Phase 1-ready biotech developing in-licensed therapies for cancer, filed on Wednesday with the SEC to raise up to $30 million in an initial public offering.
Nuvectis is focused on the development of innovative precision medicines for the treatment of serious unmet medical needs in oncology. The company is currently developing two preclinical candidates, with the lead candidate expected to begin a Phase 1 trial in the 4Q21. Nuvectis licensed exclusive worldwide commercial rights to its lead candidate NXP800, an HSF1 pathway inhibitor, from the Institute for Cancer Research in May 2021. It licensed worldwide commercial rights to NXP900, a novel SRC/YES1 kinase inhibitor, from the University of Edinburgh in August 2021.
The Fort Lee, NJ-based company was founded in 2020 and plans to list on the Nasdaq under the symbol NVCT. Nuvectis Pharma filed confidentially on July 30, 2021. ThinkEquity is the sole bookrunner on the deal. No pricing terms were disclosed.
