Curanex Pharmaceuticals, a preclinical biotech developing botanical-based treatments for various diseases, raised $15 million by offering 3.8 million shares at $4, the low end of the range of $4 to $6.
Curanex is developing its lead drug candidate, Phyto-N, which is a proprietary botanical extract with chemical components and pharmacological activities which enhance its anti-inflammatory properties. With an active ingredient derived from traditional Chinese medicine, Curanex plans to submit an IND to begin trials of Phyto-N in 2025. The company also plans to pursue Phyto-N in atopic dermatitis, diabetes, nonalcoholic fatty liver disease (NAFLD), gout, and acne.
Curanex Pharmaceuticals plans to list on the Nasdaq under the symbol CURX. Dominari Securities, Revere Securities, and Pacific Century Securities acted as joint bookrunners on the deal.
