The bone disease therapy developer had raised $92.5m from investors including UCB Pharma across two rounds in 2015.

Clementia Pharmaceuticals, a Canada-based bone disease therapy developer backed by biopharmaceutical company UCB Pharma, has filed for a $115m initial public offering in the US.

Clementia is working on treatments for patients suffering from bone diseases and other conditions with a high unmet medical need. Its lead candidate, palovarotene, aims to prevent abnormal new bone and scar tissue formation.

The company is aiming to launch phase 3 and phase 2/3 clinical trials for palovarotene this year, with results expected in…