US-based gene therapy startup Taysha Gene Therapies filed for a $100m initial public offering on Wednesday that would allow GV, a subsidiary of internet and technology conglomerate Alphabet, to exit.
Founded in 2019 in partnership with University of Texas Southwestern Medical Center, and launched in April this year, Taysha is developing gene therapies for monogenic diseases of the central nervous system (CNS).
The company plans to initiate a phase 1/2 clinical trial for a drug candidate dubbed TSHA-101 for a rare genetic disorder called GM2 gangliosidosis in Canada by the end of this year, and to submit investigational new drug applications for four more candidates in the United States.
PBM Capital and Nolan Capital provided $30m in series A funding for Taysha in April this year that was followed by a series B round last month that closed at $96m according to the IPO filing. It was led by investment and financial services group Fidelity Management & Research and included GV.
PBM Capital, Nolan Capital, Invus, Casdin Capital, Franklin Templeton, Octagon Capital, Perceptive Advisors, Sands Capital, ArrowMark Partners and Venrock Healthcare Capital Partners also took part in the series B, along with funds and accounts managed by BlackRock.
Taysha’s largest shareholder is its president and CEO, RA Session II, with a 32.9% stake. PBM Capital owns 31.4% of its shares, UT Southwestern 7.6% and Fidelity Management & Research 6.5%.
Goldman Sachs, Morgan Stanley, Jefferies and Chardan Capital Markets have been appointed underwriters for the offering, which is set to take place on the Nasdaq Global Market.
