Zenas BioPharma Inc. Prices IPO at $16.00-$18.00 Per Share (ZBIO)

Zenas BioPharma Inc. (ZBIO) plans to raise $201 million in an IPO on Friday, September 13th, IPO Scoop reports. The company plans to issue 11,800,000 shares at $16.00-$18.00 per share.

In the last 12 months, Zenas BioPharma Inc. generated $50 million in revenue and had a net loss of $37.1 million. The company has a market cap of $651.4 million.

Morgan Stanley, Jefferies, Citigroup and Guggenheim Securities served as the underwriters for the IPO.

Zenas BioPharma Inc. provided the following description of their company for its IPO: “We are a clinical biotech company developing new therapies for MS (multiple sclerosis) and other autoimmune disorders. (Incorporated in Delaware) We are a clinical-stage global biopharmaceutical company committed to being a leader in the development and commercialization of transformative immunology-based therapies for patients in need.  Our lead I&I (immunology and inflammation) product candidate, obexelimab, is a bifunctional monoclonal antibody designed to bind both CD19 and FcÎ? receptor IIb (â€?FcÎ?RIIbâ€?), which are broadly present across B cell lineage, in order to inhibit the activity of cells that are implicated in many autoimmune diseases without depleting them.  We are developing obexelimab as a potential I&I franchise for patients in several autoimmune diseases, representing substantial commercial opportunities individually and in the aggregate. The first four indications we are pursuing include immunoglobulin G4-related disease (â€?IgG4-RDâ€?) through an ongoing registration-directed Phase 3 trial; multiple sclerosis (â€?MSâ€?) and systemic lupus erythematosus (â€?SLEâ€?) through planned Phase 2, double-blind, randomized, placebo-controlled trials each of which we plan to commence in the third quarter of 2024; and warm autoimmune hemolytic anemia (â€?wAIHAâ€?) through an ongoing Phase 2/3 trial, currently in the Phase 2 open label portion. We estimate that the commercial opportunity across these four indications is approximately $50 billion in the aggregate in the U.S. alone. IgG4-RD is a chronic fibro-inflammatory condition that can affect virtually all organ systems, including the pancreas, biliary tract, salivary and lacrimal glands, lungs and kidneys. IgG4-RD is a relatively recently described disease that incorporates groups of manifestations that were diagnosed as separate disease entities prior to 2003. We estimate that the currently diagnosed population of IgG4-RD patients in the United States is approximately 20,000, with comparable prevalence rates globally. MS is the most common immune- mediated, chronic inflammatory demyelinating disease of the central nervous system (â€?CNSâ€?), affecting over two million people worldwide including as many as 1,000,000 in the United States. We estimate a diagnosed prevalence of approximately 650,000 patients in the United States with MS. SLE, the most common form of lupus, is a complex, chronic autoimmune disease characterized most notably by unpredictable flares in joints, skin, kidneys and other vital organs that cause progressive organ damage. According to the Lupus Foundation of America, at least 1.5 million Americans are afflicted by lupus and more than 16,000 new cases are reported annually. It is estimated that five million people throughout the world suffer from some form of lupus, of which 70% suffer from the most common form, SLE. We estimate a diagnosed prevalence of approximately 245,000 patients in the United States having lupus, with approximately 172,000 having SLE. Autoimmune hemolytic anemia (â€?AIHAâ€?) is an acquired disorder in which autoantibodies directed against a patient’s own red blood cell (â€?RBCâ€?) membrane antigens lead to their accelerated destruction, and the rate of production of new cells in the bone marrow can no longer compensate for their loss. We estimate that the currently diagnosed population of wAIHA patients in the United States is approximately 40,000, with similar prevalence rates in other countries. Note: Net loss and collaboration revenue are for the 12 months that ended Dec. 31,2023. The company has no revenue from product sales. (Note: Zenas BioPharma filed its S-1/A on Sept. 6, 2024, and disclosed the terms for its IPO: The company is offering 11.76 million shares at a price range of $16.00 to $18.00 to raise $199.92 million, if priced at the $17.00 mid-point. Background: Zenas BioPharma Inc. filed its S-1 on Aug. 22, 2022, without disclosing the terms for its IPO. Estimated IPO proceeds are $100 million, a placeholder figure.) “.

Zenas BioPharma Inc. was founded in 2019 and has 114 employees. The company is located at 1000 Winter Street, North Building, Suite 1200 Waltham, MA 02451 and can be reached via phone at (857) 271-2954 or on the web at https://www.zenasbio.com/.