Kaleido, Cirius seeking NASDAQ listings

Kaleido Biosciences Inc. (Lexington, Mass.) and Cirius Therapeutics Inc (San Diego, Calif.) each proposed NASDAQ IPOs on Friday.

Kaleido, which is designing therapies to modulate the metabolic output and profile of the microbiome, is seeking up to $100 million in its offering. The company's most advanced compounds, KB195 and KB174 for hyperammonemia-related disorders, are derived from a class generally regarded as safe (GRAS) and are in pre-IND clinical testing. A Phase II trial of KB195 to treat urea cycle disorders is due to begin this half; the company hopes to start Phase II testing of either KB195 or KB174 in 1Q20 to treat hepatic encephalopathy...