Aeglea Biotherapeutics, which is developing amino acid-targeted cancer and metabolic disease treatments, had raised $53.5m in VC funding from investors including Novartis and Eli Lilly.
Aeglea Biotherapeutics, a US-based biotechnology company backed by pharmaceutical firms Novartis and Eli Lilly, will raise $50m when it goes public on Nasdaq today.
The company will issue 5 million shares in the initial public offering, priced at $10.00 each yesterday, below the $16 to $18 range it set late last month when it planned to issue 3.5 million shares.
Aeglea is developing enzyme-based therapeutics designed to degrade specific amino acids in a patient’s blood in order to treat cancer…
