Biotechnology company Odyssey Therapeutics (ODTX.US) applies to be listed in the United States, planning to raise $100 million.

The biotechnology company Odyssey Therapeutics submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) last Friday, planning to raise $100 million. The company plans to list on the Nasdaq under the stock symbol "ODTX." Odyssey Therapeutics focuses on patients with autoimmune and inflammatory diseases, developing drugs that target the pathology of diseases precisely. Its lead candidate drug, OD-07656, is a small molecule scaffolding inhibitor of receptor-interacting protein kinase 2. The company plans to begin a Phase 2a monotherapy trial for ulcerative colitis in the first quarter of 2025, and a Phase 2a combination therapy trial with vedolizumab in the first half of 2026. The company's pipeline also includes two preclinical projects: a small molecule scaffolding inhibitor of interleukin-1 receptor-associated kinase 4 and an excitatory protein therapy targeting tumor necrosis factor receptor 2. This company, headquartered in Boston, Massachusetts, was founded in 2021. In the 12 months ending on September 30, 2024, the company's collaboration revenue was $3 million.