AN2 Therapeutics, a Phase 2/3-ready biotech developing an in-licensed therapy for NTM lung disease, filed on Friday with the SEC to raise up to $75 million in an initial public offering.
The company's initial product candidate is epetraborole, a once-daily oral treatment for patients with chronic non-tuberculous mycobacterial, or NTM, lung disease. The company in-licensed the exclusive worldwide development and commercialization rights for epetraborole from Anacor Pharmaceuticals (acquired by Pfizer) in 2016. AN2 Therapeutics plans to conduct a Phase 2/3 trial in treatment-refractory Mycobacterium avium complex, or MAC, lung disease, which is the most common type of NTM lung disease. The trial design is currently under review from the FDA, and the company plans to initiate enrollment in the 1H22, with topline results for the Phase 2 part expected in mid-2023.
The Menlo Park, CA-based company was founded in 2017 and plans to list on the Nasdaq under the symbol ANTX. AN2 Therapeutics filed confidentially on September 24, 2021. Cowen, SVB Leerink, Evercore ISI, and Oppenheimer & Co. are the joint bookrunners on the deal. No pricing terms were disclosed.
