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Sionna IPO Grosses $191m To Compete With Vertex In CF

NBD1 Stabilizers Are Add-Ons To CFTR Modulators

 
• By Mandy Jackson

Sionna essentially doubled its cash on hand with its initial public offering to go up against a formidable competitor in cystic fibrosis with novel medicines applicable to a broad population.

Three out of this year's four IPOs are trading in positive territory (Shutterstock)

Sionna Therapeutics has multiple drug candidates in the clinic and an ambition to improve cystic fibrosis treatment beyond what Vertex Therapeutics has achieved with its blockbuster portfolio of cystic fibrosis transmembrane conductance regulator (CFTR) modulators. Both the start-up and its investors showed that they remain undaunted by Vertex’s dominance in the CF market, with a successful initial public offering that grossed $191m for Sionna on 6 February.

Key Takeaways
  • Sionna grossed $191m in its IPO to fund development of NMD1 stabilizers and CFTR modulators for combination therapies in cystic fibrosis, taking on Vertex’s dominant position in CF.

The Boston-based company sold 10.59 million shares at $18 each, at the top of a proposed price range of $16...

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