Telomir Pharmaceuticals, a biotech company specializing in novel treatments for inflammatory diseases, announced today its initial public offering (IPO) aiming to raise $14 million. The Baltimore-based company, which was established in 2021, is focusing on the development of TELOMIR-1, an innovative oral therapy targeting essential metals in human stem cells.
The company's lead compound, TELOMIR-1, functions as a metal enzyme inhibitor that regulates zinc and copper levels within stem cells. This regulation is crucial for suppressing the production of pro-inflammatory cytokines, which are implicated in age-related diseases such as hemochromatosis and osteoarthritis. Additionally, TELOMIR-1 has potential applications in aiding recovery post-chemotherapy, according to preclinical studies.
The move to go public marks a significant milestone for Telomir Pharmaceuticals as it seeks to expand its reach within the US market. The firm has chosen Nasdaq for its listing and will trade under the ticker symbol "TELO". Kingswood Capital Markets is managing the IPO process.
The announcement of the IPO filing with the Securities and Exchange Commission (SEC) today comes as part of Telomir's strategy to secure funding for further research and development of their flagship therapy. With this financial backing, the company aims to advance TELOMIR-1 through the necessary clinical trials to bring a new treatment option to patients dealing with chronic inflammatory conditions and recovery from chemotherapy.
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