Vaxxinity, a Phase 2 biotech developing vaccine therapies for chronic diseases using synthetic peptides, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Vaxxinity's vision is to disrupt the existing treatment paradigm for chronic diseases, and believes its synthetic peptide vaccine platform (Vaxxine Platform) has the potential to enable a new class of therapeutics. Its Vaxxine Platform is designed to harness the immune system to convert the body into its own "drug factory," stimulating the production of antibodies with a therapeutic or protective effect. Its current pipeline consists of five chronic disease candidates from early to late-stage development across multiple therapeutic areas including Alzheimer's Disease (AD), Parkinson's Disease, migraine, and hypercholesterolemia. Its most advanced candidate, UB-311, targets toxic forms of aggregated amyloid-b in the brain to fight AD. The company expects to initiate a Phase 2b early AD efficacy trial in 2022. Vaxxinity is also developing a candidate for COVID-19 prevention.
The Dallas, TX-based company was founded in 2014 and plans to list on the Nasdaq under the symbol VAXX. Vaxxinity filed confidentially on August 6, 2021. BofA Securities, Jefferies, and Evercore ISI are the joint bookrunners on the deal. No pricing terms were disclosed.
