Belite Bio, a Phase 3 biotech developing novel therapies for retinal degeneration and metabolic diseases, filed on Tuesday with the SEC to raise up to $46 million in an initial public offering.
Belite is developing novel therapies for untreatable eye diseases involving retinal degeneration such as atrophic age-related macular degeneration (dry AMD) and autosomal recessive Stargardt disease (STGD1), and metabolic diseases such as non-alcoholic fatty liver disease, nonalcoholic steatohepatitis, type 2 diabetes, and gout. The company’s lead candidate, LBS-008, is an oral once-a-day treatment being developed for STGD1. Belite is currently evaluating LBS-008 in adolescent STGD1 patients in a Phase 2 trial in Australia and Taiwan and has initiated a Phase 3 trial, with approval to commence patient enrollment in Taiwan, the UK, Hong Kong, and Switzerland.
The San Diego, CA-based company was founded in 2016 and plans to list on the Nasdaq under the symbol BLTE. Belite Bio filed confidentially on December 1, 2021. The Benchmark Company is the sole bookrunner on the deal. No pricing terms were disclosed.
