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CATB > Catabasis Pharmaceuticals IPO set for Thurs June 25...founded by former Sitris execs. Lead drug is CAT-1004 for Duchenne muscular dystrophy...

http://www.catabasis.com/clinical-trials-cat-1004-movedmd.php

CAT-1004 is an oral small molecule investigational drug that modulates activated NF-?B. In boys with DMD, the absence of dystrophin combined with mechanical stress in muscle leads to a robust activation of NF-?B. Activated NF-?B drives muscle damage and prevents muscle regeneration. CAT-1004 is not a corticosteroid.

Catabasis has completed Phase 1 clinical trials with CAT-1004 in adults. In these trials, CAT-1004 inhibited NF-?B and was well-tolerated. There were no safety concerns identified. In animal models of DMD, CAT-1004 inhibited activated NF-?B, reduced muscle inflammation and degeneration, and there was also evidence of increased muscle regeneration and improved muscle function.

Catabasis Pharmaceuticals, which is developing combined therapies for Duchenne muscular dystrophy and high cholesterol, announced terms for its IPO on Thursday.

The Cambridge, MA-based company plans to raise $60 million by offering 4.3 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Catabasis Pharmaceuticals would command a fully diluted market value of $207 million.

Catabasis claims that its SMART (Safely Metabolized And Rationally Targeted) linker concept treats diseases by simultaneously modulating multiple biological targets in one or more related disease pathways. Most of the IPO proceeds will be used to fund a trial for Duchenne Muscular Dystrophy using its SMART linker conjugate therapy.

Catabasis Pharmaceuticals, which was founded in 2008, plans to list on the NASDAQ under the symbol CATB. It initially filed confidentially on January 23, 2015. Citi, Cowen & Company, Oppenheimer and Wedbush PacGrow are the joint bookrunners on the deal. It is expected to price during the week of June 22, 2015.

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http://www.nasdaq.com/markets/ipos/filing.ashx?filingid=10279600