Ventyx Biosciences, a Phase 1 biotech developing selective therapies for inflammatory and autoimmune diseases, raised $152 million by offering 9.5 million shares at $16, within the range of $15 to $17. The company offered 1.7 million more shares than anticipated.
Ventyx is focused on advancing new therapies for patients living with inflammatory diseases and autoimmune disorders. Its lead candidate is VTX958, an oral, selective clinical-stage tyrosine kinase type 2 inhibitor that it believes has the potential to address a broad range of immune-mediated diseases, such as psoriasis, inflammatory bowel disease, psoriatic arthritis, and lupus. The company plans to develop VTX958 initially for psoriasis, psoriatic arthritis, and Crohn's disease. Ventyx has completed the single-ascending dose portion of its Phase 1 trial for VTX958 and expects to initiate the multiple-ascending dose part of this trial in the 4Q21.
Ventyx Biosciences plans to list on the Nasdaq under the symbol VTYX. Jefferies, Evercore ISI, and Piper Sandler acted as joint bookrunners on the deal.
