Fidelity and Arch back RNAi upstart City Therapeutics (CTY.US) as it sprints toward a U.S. IPO, aiming to raise up to $185 million.

Zhito Finance APP has learned that early-stage RNAi drug developer City Therapeutics Inc. (CTY.US) is seeking to raise up to $184.7 million in a U.S. initial public offering (IPO). According to a filing submitted by the company to the U.S. Securities and Exchange Commission on Friday, the company, whose investors include Arch Venture Partners and Fidelity Management & Research Company, plans to offer 9.72 million shares at a price of $17 to $19 per share.