Unicycive Therapeutics, an early-stage biotech developing in-licensed therapies for kidney disease, announced terms for its IPO on Monday.
The Los Altos, CA-based company plans to raise $25 million by offering 2.6 million shares at a price range of $8.50 to $10.50. At the midpoint of the proposed range, Unicycive Therapeutics would command a fully diluted market value of $116 million.
Unicycive Therapeutics is primarily focused on developing therapies for kidney diseases. Its candidates include Renazorb, which was in-licensed from Spectrum Pharmaceuticals who conducted a Phase 1 trial for hyperphosphatemia in patients with chronic kidney disease in 2012, and UNI 494, which was in-licensed from Sphaera Pharmaceuticals. Unicycive began conducting preclinical trails on UNI 494 in 2020.
Unicycive Therapeutics was founded in 2016 and plans to list on the Nasdaq under the symbol UNCY. Roth Capital is the sole bookrunner on the deal.
