Gossamer Bio Inc. (San Diego, Calif.) plans to raise up to $264.5 million in an IPO on NASDAQ, according to a Dec. 21 SEC filing. The company was launched by ex-Receptos Inc. executives in January (see “Gossamer’s War Chest”).
Friday’s SEC filing is the first glimpse of targets and indications for many of Gossamer’s six programs.
Lead candidate GB001 is a prostaglandin D2 (PGD2) receptor subtype DP2 (PTGDR2; CRTH2; GPR44; DP2; CD294) antagonist in Phase IIb testing for moderate to severe eosinophilic asthma. Gossamer’s pipeline also includes GB002, a PDGFR inhibitor in Phase I testing for pulmonary arterial hypertension, and GB1275, a complement receptor 3 (CR3; CD11b; ITGAM) agonist in preclinical development for oncology.
Gossamer gained GB001 through the acquisition of Pulmagen Therapeutics Ltd.Teijin Pharma Ltd. (Tokyo, Japan) has exclusive Japanese rights to the therapy under a previous deal with Pulmagen.
Teijin completed a positive Phase II Japanese study of GB001. In a separate Phase II trial by Pulmagen, GB001 did not meet its primary endpoint vs. placebo of improvement in forced expiratory volume over one second (FEV1) in asthma patients.
From Pulmokine Inc. (Rensselaer, N.Y.), Gossamer gained exclusive worldwide licenses and sublicenses to GB002 for $5.5 million up front and up to $298 million in milestones. Pulmokine had received the candidate from Gilead Sciences Inc. (NASDAQ:GILD).
Gossamer previously disclosed GB004 is a prolyl hydroxylase (PHD) inhibitor that stabilizes hypoxia-inducible factor 1 ? (HIF1A; HIF1-?) transcription in Phase I testing for inflammatory bowel disease (IBD). It received exclusive, worldwide rights to the therapy from Aerpio Pharmaceuticals Inc. (OTCQB:ARPO) for $20 million up front and up to $400 million in milestones.
Gossamer said in the filing it also has a discovery portfolio of novel BTK inhibitors for autoimmune indications and small molecule cancer metabolism modulators for solid tumors.
Arch Venture Partners holds a 17.5% stake in the company; Omega Fund V a 15.1% stake; and Hillhouse Capital a 10.8% stake.
CEO Sheila Gujrathi, who was Receptos’ CMO, holds a 8.8% stake and Executive Chairman Faheem Hasnain, who was Receptos’ president and CEO, holds a 7.3% stake.
Gossamer has raised more than $300 million since its inception and had $256.4 millionin cash at Sept. 30.
Underwriters for the IPO are BofA Merrill Lynch, Leerink Partners, Barclays and Evercore ISI.
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