Equillium proposes $86.3M IPO

Autoimmune and inflammatory disease company Equillium Inc. (La Jolla, Calif.) proposed to raise up to $86.3 million on Sept. 17 in an IPO on NASDAQ underwritten by Jefferies, Leerink and Stifel.

The company has U.S. and Canadian rights to itolizumab (EQ001) from Biocon Ltd. (NSE:BIOCON; BSE:535523). The humanized mAb inhibitor of CD6 is approved in India as Alzumab to treat moderate to severe plaque psoriasis. Biocon holds an 18.8% stake in Equillium...