Genentech, Roche vets aim new company's $86.25 million IPO at cancer

A South San Francisco startup led by veterans of biotech stalwart Genentech Inc. and its parent company Roche wants to raise $86.25 million in an initial public offering. RAPT Therapeutics Inc. — known until May as FLX Bio Inc. — expects to use the IPO booty to fund development of cancer-fighting FLX-475 through results of an ongoing Phase I/II clinical trial, fund an early-stage safety trial of RPT-193 in the itchy skin condition known as atopic dermatitis an d develop other drug candidates,…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news