Kailera Therapeutics, a Phase 3 biotech developing injectable and oral GLP-1s for obesity, announced terms for its IPO on Monday.
The Waltham, MA-based company plans to raise $500 million by offering 33.3 million shares at a price range of $14 to $16. Certain shareholders intend to purchase $225 million worth of shares in the offering (45% of the deal).
Kailera is progressing four clinical-stage candidates targeting obesity, leveraging multiple glucagon-like peptide-1 (GLP-1) based mechanisms of action and routes of administration. Its lead candidate, ribupatide (also known as KAI-9531), is currently being evaluated in global Phase 3 trials as a once-weekly injectable GLP-1/glucose-dependent insulinotropic polypeptide receptor dual agonist peptide. The company is expanding its ribupatide franchise by developing a once-daily oral tablet formulation, oral ribupatide, based on the same peptide as injectable ribupatide.
Kailera Therapeutics was founded in 2024. It plans to list on the Nasdaq under the symbol KLRA. J.P. Morgan, Jefferies, Leerink Partners, TD Securities, and Evercore ISI are the joint bookrunners on the deal. It is expected to price this week.
