Vitro Biopharma, a Phase 1-ready biotech developing stem cell therapies for various indications, filed on Friday with the SEC to raise up to $17 million in an initial public offering.
Vitro Biopharma is developing novel cellular therapies derived from culture-expanded mesenchymal stem cells (MSCs) for autoimmune diseases and inflammatory disorders using its proprietary platform, AlloRx Stem Cell therapy. The MSCs used are sourced from the Wharton’s jelly of umbilical cords donated by healthy volunteers following childbirth. The company plans to initiate Phase 1/2a trials in pediatric orphan disease Pitt Hopkins syndrome and post-acute sequelae to SARs-CoV-2 ("long COVID") in late 2022 or early 2023.
The Denver, CO-based company was founded in 1986 and booked $3 million in revenue for the 12 months ended April 30, 2022. It plans to list on the Nasdaq under the symbol VTRO. ThinkEquity is the sole bookrunner on the deal. No pricing terms were disclosed.
