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Dimension Therapeutics is preparing to file for a $115 million initial public offering. The S-1 filing followed the news that the FDA accepted the company’s IND for its gene therapy program targeting hemophilia B.
Dimension Therapeutics is preparing to file for a $115 million initial public offering. The S-1 filing followed the news that the FDA accepted the company’s IND for its gene therapy program targeting hemophilia B.
According to Fierce Biotech:
This filing has been brewing ever since the biotech finalized its $65 million raise in April, with New Leaf leading off with help from Jennison Associates, Partner Fund Management, RA Capital Management, Rock Springs Capital and Tourbillon Global Ventures. The original investors, Fidelity Biosciences and OrbiMed, also stepped back in on the round.
Dimension was founded by Fidelity, wooing former Merck Serono R&D chief Annalisa Jenkins to take the top job. Dimension was named a Fierce 15 company in 2014, alongside Voyager Therapeutics, another gene therapy developer which has put together its own crossover round. Dimension is the 8th Fierce 15 company from the class of 2014 to file an IPO, and at least two more appear to be positioning themselves for the leap in an unprecedented rush through an IPO window that has now been open for close to three years.
Despite some severe market turbulence, investors don’t appear to have lost their appetite for risky biotech startups, yet. The IPOs keep coming, even as a few of the newly public companies like Celladon ($CLDN), Regado ($RGDO) and others have foundered badly, offering cautionary tales about the high wire most biotechs are balanced on.