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Hemochromatosis drug developer Telomir Pharmaceuticals prices IPO at $7

February 8, 2024
TELO

Telomir Pharmaceuticals, a preclinical developer of an oral small molecule therapy for hemochromatosis, raised $7 million by offering 1.0 million shares at $7.00, in line with its latest filing.

The Baltimore, MD-based company is focused on the development and commercialization of TELOMIR-1, a novel small molecule being developed to function as an oral in situ therapy for human stem cells. The company believes that TELOMIR-1 may potentially serve as a metal enzyme inhibitor of essential metals such as zinc and copper. Telomir's initial focus will be on treatments to inhibit the production of pro-inflammatory cytokines, with a goal of advancing TELOMIR-1 in the US for the treatment of age-related inflammatory conditions such as hemochromatosis and osteoarthritis, as well as in post-chemotherapy recovery. The company plans to submit an IND application for the treatment of hemochromatosis in the 3Q24.

Telomir Pharmaceuticals plans to list on the Nasdaq under the symbol TELO. Kingswood Capital Markets acted as sole bookrunner on the deal.