Clementia proposes $115M IPO

Bone disease company Clementia Pharmaceuticals Inc. (Montreal, Quebec) proposed to raise up to $115 million in an IPO on NASDAQ underwritten by Morgan Stanley, Leerink, Wedbush Pacgrow and BTIG.

Clementia’s lead candidate palovarotene (R667) is a selective small molecule retinoic acid receptor gamma (RARG) agonist. This year, the company plans to start the Phase III MOVE trial of palovarotene to treat fibrodysplasia ossificans progressiva and a Phase II/III trial of the product to treat multiple osteochondroma. Interim data from both trials are expected in 2019...