Tarsier Pharma, an Israel-based Phase 3 biotech developing steroid-free therapies for ocular diseases, announced terms for its IPO on Monday.
The Zichron Yaacov, Israel-based company plans to raise $45 million by offering 5 million shares at a price range of $8 to $10. At the midpoint of the proposed range, Tarsier Pharma would command a fully diluted market value of $294 million.
Tarsier Pharma is a late-stage clinical biopharmaceutical firm developing novel therapies for inflammatory eye diseases that can lead to blindness. Its lead platform, based on the immunomodulatory compound dazdotuftide, is designed to treat conditions such as non-infectious anterior uveitis without relying on steroids, which are the current standard of care but can increase the risk of glaucoma. The company is advancing both an eye drop (TRS01) and an injectable formulation (TRS02) to reduce inflammation while avoiding steroid-related side effects, targeting what it calls a high unmet need among patients with uveitis and associated glaucoma.
Tarsier Pharma was founded in 2016. It plans to list on the NYSE American under the symbol TARX. Konik Capital Partners (a division of T.R. Winston) is the sole bookrunner on the deal.
