Kaiser Permanente-backed biopharma CAMP4 files for US IPO
Adds financial and other details about company in paragraphs 2 and 4, industry context in paragraph 3
Sept 20 (Reuters) -CAMP4 Therapeutics, a biopharmaceutical firm backed by healthcare giant Kaiser Permanente, filed for an initial public offering in the United States on Friday.
Founded in 2016, the Cambridge, Massachusetts-based company is developing therapies to treat a broad range of genetic diseases.
The move comes days after a handful of startups from the industry saw strong market debuts, underscoring a resurgence in the IPO market, particularly for biotech firms.
CAMP4 lost $25 million in the first half of 2024, compared with $24.6 million in the same period last year. It has not generated any revenue to date.
Proceeds from the offering will primarily be used for clinical development of some of its product candidates, CAMP4 said.
Besides Kaiser, CAMP4 counts healthcare and life sciences-focused investment firms Enavate Sciences and 5AM Ventures among its backers.
The company is led by Josh Mandel-Brehm, who was previously at Biogen BIIB.O from 2013 to 2017.
CAMP4 is seeking to list its shares on Nasdaq under the ticker symbol "CAMP." J.P. Morgan, Leerink Partners, Piper Sandler and William Blair are the underwriters for the IPO.
Reporting by Niket Nishant in Bengaluru; Editing by Alan Barona
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