Inozyme Pharma has filed a preliminary prospectus for a $86M IPO.
The Boston, MA-based company is focused on developing therapies for abnormal mineralization impacting the vasculature, soft tissue and skeleton.
The company’s lead candidate, INZ-701, is a soluble, genetically engineered fusion protein, designed to correct a defect in the mineralization pathway caused by ENPP1 and ABCC6 deficiencies.
It plans to file an IND with the FDA and CTAs with European regulatory authorities for INZ-701 in 2H 2020, and plans to commence two Phase 1/2 trials after.
Proposed Nasdaq Global Market ticker is ‘INZY’
Q1 2020 financials: Operating expenses: $7.9M (+53.1% Y/Y); Net loss: $7.7M (+56%); Cash balance: $40.8M
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