Structure Therapeutics, a Phase 1 biotech developing G-protein-coupled receptors for chronic diseases, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
Headquartered in California with R&D operations in China, Structure Therapeutics aims to develop and deliver novel oral therapeutics for a wide range of chronic diseases with unmet medical needs. Its initial focus is on G-protein-coupled receptors (GPCRs), which regulate numerous physiological and pathological processes. The company's lead candidate, GSBR-1290, is an oral small molecule agonist of GLP-1R, a validated GPCR drug target for type-2 diabetes mellitus and obesity. Structure Therapeutics completed a Phase 1 single ascending dose study of GSBR-1290 in September 2022, and initiated a Phase 1b multiple ascending dose study in January 2023. The company expects to initiate a Phase 2a proof-of-concept study in the 2H23.
The South San Francisco, CA-based company was founded in 2016 and plans to list on the Nasdaq under the symbol GPCR. Jefferies, SVB Leerink, Guggenheim Securities, and BMO Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
