Rezera, a Phase 3-ready biotech developing oral NLRP3 inhibitors for inflammatory diseases, announced terms for its IPO on Thursday.
The Boston, MA-based company plans to raise $200 million by offering 16.7 million shares at a price range of $11 to $13. New investor and affiliate GSK has indicated on up to $25 million of the IPO (13% of the deal). At the midpoint of the proposed range, Rezera would command a fully diluted market value of $254 million.
Rezera is developing oral inhibitors of NLRP3, the upstream driver of sterile inflammation, for cardiovascular and neuroinflammatory diseases. Its lead candidate, ruvonoflast, has completed two Phase 2 trials in cardiometabolic disease, and the company plans to initiate a Phase 3 trial in peripheral artery disease (PAD) in the 1H27, with a readout expected in 2028. The company is also developing trabzanoflast, a brain-penetrant NLRP3 inhibitor that has completed a Phase 1 trial, for neuroinflammatory indications. The company retains worldwide rights to all of its candidates.
Rezera was founded in 2016. It plans to list on the Nasdaq under the symbol RZRA. Jefferies, TD Securities, and Cantor Fitzgerald are the joint bookrunners on the deal. It is expected to price during the week of November 9, 2026.
