Jan. 13 Quick Takes: Stevens’ Structure Therapeutics files for IPO
Plus: Expanded label for Novo’s Rybelsus and updates from China Resources, LinusBio, MPC Therapeutics, Sabin and more
Structure Therapeutics Inc., formerly known as ShouTi Inc., is looking to test what is sure to be a highly selective market for IPOs on NASDAQ. The South San Francisco company, which is led by CEO Raymond Stevens, is seeking to convert biologics into best-in-class small molecules accessible to patients on a global scale. Lead product candidate GSBR-1290 is an oral small molecule agonist of GLP-1R in Phase Ib testing for Type II diabetes and obesity.
The company has raised $198 million since its 2016 launch, with Sequoia Capital China (10.3%), BVF Partners (9.6%), Eight Roads (8.4%), Hillhouse (8.1%), F-Prime Capital (7.5%), Qiming Venture Partners (6.4%) and Deep Track (6.4%) among its largest investors. Underwriters are Jefferies, SVB Securities, Guggenheim Securities and BMO Capital Markets, according to an S-1 filed Thursday...