Principia Biopharma, whose drug discovery platform is based on research at UCSF, has filed for an $86.3m initial public offering having raised $50m earlier this month.
Principia Biopharma, a US-based cancer and autoimmune treatment developer based on research at University of California San Francisco (UCSF), has filed for an $86.3m initial public offering on the Nasdaq Global Market.
Founded in 2008, Principia is developing oral treatments for cancer and autoimmune diseases intended to be as efficient as injectable drugs. Its drug discovery platform, Tailored Covalency, is based on technology licensed from UCSF.
The company’s lead drug candidate is PRN1008, which is undergoing phase 2 clinical trials for a rare skin disorder called pemphigus that leads to blisters and sores, and for immune thrombocytopenic purpura, a syndrome that causes easy bruising and bleeding.
Principia is also working on a therapy called PRN2246 for multiple sclerosis and other central nervous system disorders, and on PRN1371, a prospective treatment for solid tumours.
Proceeds from the offering will fund the completion of phase 2 trials for PRN1008 and support…
