Published: Jun 23, 2023 at 5:32pm ET
By Ben Glickman
Sagimet Biosciences filed with the Securities and Exchange Commission for a new initial public offering on Friday.
Based in San Mateo, California, the biopharmaceutical company aims to develop treatments for diseases caused by overproduction of the fatty acid palmitate. Diseases the company hopes to treat include nonalcoholic steatohepatitis,…
By Ben Glickman
Sagimet Biosciences filed with the Securities and Exchange Commission for a new initial public offering on Friday.
Based in San Mateo, California, the biopharmaceutical company aims to develop treatments for diseases caused by overproduction of the fatty acid palmitate. Among the diseases the company hopes to treat is nonalcoholic steatohepatitis, a form of fatty liver disease.
Sagimet did not provide an expected size for its IPO, nor an expected price range.
The company previously applied for an IPO in April 2021 and withdrew its application in March 2022.
Major shareholders included Kleiner Perkins Caufield & Byers, New Enterprise Associates and Ascletis, Sagimet’s licensing partner in China.
The company said it is seeking a listing on the Nasdaq Global Market under the symbol SGMT.
Goldman Sachs & Co., Cowen & Co., Piper Sandler & Co. and JMP Securities are listed as subscribers in the SEC filing.
Write to Ben Glickman at [email protected]
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