Switzerland-based biotechnology company Molecular Partners filed for an initial public offering on Tuesday that could raise up to $134m.
Molecular is working on treatments based around protein therapeutics known as DARPins, for which it has developed clinical and preclinical product candidates and research programmes.
The company raised $44m from a 2009 series B round from Johnson & Johnson Development Corporation, the corporate venturing arm of pharmaceutical company Johnson & Johnson, Endeavour Vision, BB Biotech Ventures, Index Ventures and Essex Woodlands Health Ventures.
Those investors had earlier backed a $15.6m series A round in 2007.
Molecular plans to invest the proceeds in advancing its product and technology pipeline, much of which is targeted at eye diseases and cancer.
The company’s lead product, which it is developing in partnership with pharmaceutical company Allergen, is a treatment to prevent blindness. Molecular and Allergen are seeking to begin Phase 3 clinical trials for the drug next year.
– Photo courtesy of Molecular Partners AG