Cardiovascular disease biotech company Scribe (SCTX.US) has an IPO price of 13-15 US dollars/share to raise 100 million US dollars

The Zhitong Finance App learned that Scribe Therapeutics, a biotech company dedicated to developing CRISPR gene therapy for high cholesterol and currently in phase I clinical phase, announced initial public offering (IPO) terms on Monday. The company plans to raise $100 million by issuing 7.2 million shares at a price of 13 to 15 US dollars each. The company plans to list on NASDAQ under the ticker symbol “SCTX.”

According to reports, the current shareholder LLY.US (LLY.US) plans to participate in this issue to purchase shares, bringing its shareholding ratio to 10.9% after the completion of the IPO. In addition, the company also plans to raise an additional 7.5 million US dollars through simultaneous private equity financing from SNY.US (SNY.US).

Founded in 2017, Scribe Therapeutics focuses on developing in vivo gene therapy based on CRISPR technology to prolong healthy life expectancy through disease prevention, with an initial focus on cardiovascular diseases and metabolic diseases. The company's core drug candidate, STX-1150, uses an epigenetic silencing (epigenetic silencing) strategy to reduce low density lipoprotein cholesterol (LDL-C) levels for a long time by inhibiting PCSK9 gene expression without permanently altering DNA. Currently, the drug has received approval from the Australian Therapeutic Goods Administration (TGA) to conduct its first human clinical trial, and preliminary data is expected to be released in the first half of 2027.

Two other follow-up R&D projects, STX-1200 and STX-1400, use XE gene editing technology independently developed by the company to target lipoprotein (a) [Lp (a)] and triglycerides, respectively, to address other key risk factors leading to atherosclerotic cardiovascular disease. Both projects have received funding from the California Institute of Regenerative Medicine (CIRM) and are expected to launch phase I clinical trials in 2027 and 2028, respectively.

Additionally, the data shows that the company achieved $36 million in cooperative revenue in the past 12 months ending March 31, 2026.