Weight loss drug developer BioAge seeks up to $602M valuation in U.S. IPO
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Obesity drug developer BioAge Labs (BIOA) has filed regulatory filings as part of its U.S. IPO. It seeks to offer 7.5M shares at a price range of $17 to $19, implying a valuation of up to $602M at the midpoint.
Sofinnova Venture Partners, a leading BioAge (BIOA) shareholder with a 7% stake in the company, intends to invest $15M in a concurrent private placement.
The Richmond, California-based biotech’s most advanced candidate, azelaprag, is currently undergoing a Phase 2 trial with Eli Lilly’s (LLY) obesity therapy, tirzepatide.
Plans to test the apelin receptor agonist in another mid-stage trial with Novo Nordisk’s (NVO) rival therapy, semaglutide, are underway. Topline data from the first of these combination trials are expected in Q3 2025.
Next week, BioAge (BIOA) is on track to price the offering. Goldman Sachs, Morgan Stanley, Jefferies, and Citi operate as its joint bookrunners.