Cardiovascular disease biotechnology company Scribe (SCTX.US) IPO pricing $13-15 per share, aiming to raise $100 million.

Dedicated to developing CRISPR gene therapy for high cholesterol, the biotech company Scribe Therapeutics, which is currently in Phase I clinical stage, announced the terms of its initial public offering (IPO) on Monday. The company plans to issue 7.2 million shares at a price of $13 to $15 per share, raising $100 million. Scribe Therapeutics plans to list on Nasdaq with the stock symbol "SCTX". It is reported that existing shareholder Eli Lilly (LLY.US) plans to participate in the offering to increase its stake to 10.9% after the IPO. In addition, the company also plans to raise an additional $7.5 million through a private financing coinciding with Sanofi's (SNY.US) offering. Founded in 2017, Scribe Therapeutics focuses on developing in vivo gene therapy based on CRISPR technology, aiming to prevent diseases and extend healthy lifespan, with a primary focus on cardiovascular and metabolic diseases. The company's lead candidate drug STX-1150 uses an epigenetic silencing strategy to inhibit the expression of the PCSK9 gene, leading to long-term reduction in low-density lipoprotein cholesterol (LDL-C) levels without permanently altering DNA. The drug has been approved by the Australian Therapeutic Goods Administration (TGA) for its first human clinical trial and preliminary data is expected to be released in the first half of 2027. Two other follow-up projects, STX-1200 and STX-1400, use the company's proprietary XE gene editing technology to target lipoprotein(a) [Lp(a)] and triglycerides, respectively, to address other key risk factors for atherosclerotic cardiovascular disease. These projects have received partial funding from the California Institute for Regenerative Medicine (CIRM) and are expected to start Phase I clinical trials in 2027 and 2028, respectively. Furthermore, data shows that the company generated $36 million in collaboration revenue in the past 12 months ending on March 31, 2026.