IPOs

Fibromyalgia biotech Virios Therapeutics files for a $35 million IPO

Virios Therapeutics, a Phase 2 biotech developing novel antiviral therapies for fibromyalgia and other diseases, filed on Friday with the SEC to raise up to $35 million in an initial public offering.

The company's lead candidate, IMC-1, is a novel combination antiviral therapy designed to synergistically suppress Herpes Simplex Virus-1activation and replication, with the end goal of reducing viral mediated disease burden. In a Phase 2a proof-of-concept trial for fibromyalgia, IMC-1 provided statistically significant improvement versus placebo in the primary endpoint of pain reduction. The company plans to enter a Phase 2b trial in the 1Q21, with topline data expected in the 1Q22.

The Alpharetta, GA-based company was founded in 2012 and plans to list on the Nasdaq under the symbol VIRI. Virios Therapeutics filed confidentially on July 24, 2020. ThinkEquity is the sole bookrunner on the deal. No pricing terms were disclosed.

The article Fibromyalgia biotech Virios Therapeutics files for a $35 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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