IPO Filed by Translate for Undertaking Fibrosis Treatment Trial
June 6, 2018
Source: Ddu
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An IPO for raising USD 115 million from public investors has been filed by Translate Bio. Proceeds garnered from the IPO will be used by Translate to trial an mRNA candidate designed to allow cystic fibrosis patients produce CTFR proteins.
At the end of 2016, Translate bought the mRNA therapeutic platform on which it is built, from Shire whereupon the platform, the scientific founders and candidates were transferred to the company. The company is currently aiming to raize $115 million for cystic fibrosis and OTC deficiency clinical trails.
Last month Translate started a 1/2 trail MRT5005 in cystic fibrosis where approximately 32 patients will be enrolled. The patients will randomly either receive the mRNA therapy or placebos in order to test both MRT5005's efficiency in delivering mRNA to epithelial cells and its safety.
A lipid-based nanoparticle would carry an mRNA sequence package to the lungs by means of using a nebulizer and thus far, preclinical data indicates that repeat dosing would be possible.
By Ddu
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