(By Balachander) Epizyme Inc., a biopharmaceutical company developing therapeutics for the treatment of genetically defined cancers, has filed to raise up to $69 million in an initial public offering (IPO) of its common stock.
The filing with the U.S. federal regulators did not disclose how many shares the Cambridge, Massachusetts-based company plans to offer or the pricing terms.
Epizyme is conducting a Phase 1 clinical trial of its most advanced product candidate, EPZ-5676, an inhibitor targeting the DOT1L HMT, for the treatment of mixed lineage rearranged leukemia.
HMTs are part of the system of gene regulation, referred to as epigenetics, that controls gene expression.
In the second quarter of 2013, the company expects to begin a Phase 1/2 clinical trial of its second most advanced product candidate, EPZ-6438, an inhibitor targeting the EZH2 HMT, for the treatment of a genetically defined subtype of non-Hodgkin lymphoma.
[Related -Initial Jobless Claims Rose Unexpectedly]
The company expects to use the net proceeds from the offering to fund the costs of Phase 1 clinical development of EPZ-5676, to fund research and development and advance its pipeline of preclinical product candidates and for working capital and general corporate purposes.
For the year ended December 2012, loss attributable to common stockholders was $1.19 million on collaboration revenue of $45.22 million.
The company, which was founded in November 2007, has applied to list its common stock on the NASDAQ under the symbol "EPZM."
Citigroup (C), Cowen and Co. and Leerink Swann are the joint bookrunners on the offering.