BioCentury
ARTICLE | Financial News

Principia seeks IPO ahead of Phase III trials for Btk program

August 31, 2018 6:33 PM UTC

Principia Biopharma Inc. (South San Francisco, Calif.) proposed late Aug. 17 to raise $86.3 million in an IPO on NASDAQ and revealed that it raised $49.7 million in a series C round this month. Underwriters are BofA Merrill Lynch, Leerink, Wells Fargo and Baird.

Principia uses its Tailored Covalency platform to develop small molecule reversible or irreversible covalent inhibitors that it believes will provide the potency of IV biologics with the convenience of oral therapeutics (see "Principia: Reversing Covalency")...