Intrinsic Medicine, a preclinical biotech developing HiMO therapies for GBA and inflammatory disorders, filed on Friday with the SEC to raise up to $29 million in an initial public offering.
Intrinsic Medicine's pipeline currently consists of human identical milk oligosaccharide (HiMO) candidates which it believes have the potential to treat gut-brain axis (GBA) and certain inflammatory disorders. The company has yet to receive IND approval from the FDA for any of its candidates, but it plans to initiate a Phase 2 trial in the 1H23 under an approved protocol in Australia for its lead candidate in constipation dominant irritable bowel syndrome (IBS-C).
The Seattle, WA-based company was founded in 2018 and plans to list on the Nasdaq under the symbol INRX. Intrinsic Medicine filed confidentially on December 30, 2021. Spartan Securities and Revere Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
