UCL Technology Fund-backed gene therapy developer MeiraGTx has gone public on Nasdaq after raising $75m in proceeds in its initial public offering.
MeiraGTx, a US-based developer of treatments for genetic disorders backed by the UCL Technology Fund, floated on Nasdaq on Friday after raising $75m in an initial public offering.
The company priced 5 million shares at $15 each. The $75m figures fell short of the company’s initial target of $86.3m, which had briefly been raised to $92m.
MeiraGTx is working on gene therapy treatments that target inherited retinal diseases, neurodegenerative conditions and serious forms of xerostomia, also known as dry mouth syndrome.
The company was founded in 2015 through a series of deals that involved assets from Athena Vision, a biotechnology spinout from University College London (UCL) developing gene therapies to treat eye diseases, and biopharmaceutical firm Kadmon.
The company will put the majority of proceeds into the development of five drug candidates., while additional capital will be used to increase manufacturing capabilities and R&D of other drug candidates and…
