Aug 25 (Reuters) – Neumora Therapeutics, a biopharmaceutical company backed by biotech firm Amgen (AMGN.O) and Japan’s SoftBank (9984.T), filed for an IPO for its shares in New York on Friday .
The filing comes at a time when investor interest in IPOs is resurgent after a flurry of deals in the United States and European markets that saw many big-name startups shelve their IPO plans over the past year due to market volatility.
Neumora’s lead drug candidate, navacaprant, is a potential oral treatment for major depressive disorder. The company expects results from the first of its three late-stage studies with the drug in the second half of 2024.
Navacaprant helped relieve symptoms of depression in patients with moderate to severe forms of the disorder in a mid-stage study, the company said last month.
Neumora did not disclose the scope, timing or other details of the offering in its filing with the US Securities and Exchange Commission.
The company, which is also backed by subsidiaries of Arch Venture Partners, intends to list its shares on the Nasdaq under the ticker symbol “NMRA”.
Neumora last month named former AbbVie (ABBV.N) executive Henry Gosebruch as its new CEO, replacing co-founder Paul Berns.
Amgen made a $100 million equity investment in Neumora Therapeutics in 2021, which in return also received worldwide rights to develop and sell certain of Amgen’s investigational drugs for neurodegenerative diseases.
JPMorgan and Bank of America are the lead underwriters of the offering.
Reporting by Jaiveer Singh Shekhawat and Leroy Leo in Bengaluru; Edited by Shailesh Kuber
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