Lirum Therapeutics (LRTX) Announces Proposed IPO

Lirum Therapeutics (NASDAQ: LRTX) has filed for a proposed IPO.

The company describes itself as: "
We are an innovative, clinical-stage biopharmaceutical company focused on the treatment of debilitating diseases through the acquisition, development, and commercialization of novel drug candidates with compelling mechanisms of action, regulatory pathways, and commercial opportunities.
Our lead product candidate, LX-101, is a novel, clinical-stage, next generation, targeted therapy directed to the insulin-like growth factor-1 (“IGF-1”) receptor (“IGF-1R”) with a differentiated payload-bearing mechanism of action. The IGF-1/IGF-1R pathway has been implicated in a host of malignancies and autoimmune diseases and we believe represents a scientifically and medically rational target with a multi-billion-dollar market opportunity. The IGF-1R target has been commercially validated, as Tepezza® (teprotumumab), an IGF-1R-directed, naked, non-payload-bearing, monoclonal antibody developed by one of our competitors, generated $1.97 billion in revenue in 2022. This was Tepezza’s third year on the market, and is approved in just one indication, an autoimmune condition known as thyroid eye disease (“TED”).
LX-101, formerly named 765IGF-MTX, a drug candidate for which Lirum has acquired a license, has been clinically evaluated by the licensor in Phase 1a trials of patients with advanced, pretreated cancer, where it was found to be well-tolerated and demonstrated single agent activity. We are developing LX-101 in certain oncology and autoimmune indications, including TED, and we are seeking to establish LX-101 as the standard of care for treating these diseases."

ThinkEquity will serve as sole underwriter.

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