RegenXBio, a US-based gene therapy developer that counts pharmaceutical firm GlaxoSmithKline (GSK) among its investors, has filed for an initial public offering on Nasdaq that could raise up to $100m.
Co-founded by biomedical research company Foxkiser, University of Pennsylvania and RegenXBio’s chief scientific advisor James M. Wilson, the company is developing drugs for a variety of disorders based on its adeno-associated virus gene therapy delivery platform.
The platform is responsible for five treatments being developed internally and another 18 externally with partners.
The IPO proceeds will support research and development costs for three of the drug candidates that are being developed externally, and which are set to advance into Phase I or Phase I/II clinical trials. Additional capital will fund research and development expenses for RegenXBio’s internal drug pipeline.
GSK picked up a 20% stake in RegenXBio in 2009 as part of a licensing agreement, and it currently owns a 5.7% share. The two largest shareholders are Allan Fox and John Daniel Kiser, co-founders of Foxkiser, which hold 16.9% and 12% respectively.
Other notable investors in RegenXBio include Venrock (9.5%), Brookside Capital (9.2%), Deerfield Management (6.1%) and Beacon Bioventures (5.7%).
The company has raised more than $110m in total funding from investors also including Janus Capital Management, Jennison Associates, Perceptive Advisors, QVT Financial, Tourbillon Global Ventures, Sectoral Asset Management, Cormorant Asset Management, Foresite Capital Management, RTW Investments and Fidelity Biosciences.
Morgan Stanley, BofA Merrill Lynch and Piper Jaffray are acting as joint bookrunners for the IPO.