MBX Biosciences IPO

(Reuters) – MBX Biosciences, focused on developing peptide therapies for endocrine and metabolic disorders, including obesity, announced on Monday its aim for a valuation of up to $482.5 million in its initial public offering (IPO) in the United States.

Importance

Weight-loss drug manufacturers have drawn significant investor interest, securing backing from leading venture capital firms after demonstrating effectiveness in obesity treatment. Analysts on Wall Street project annual global sales of $150 billion for weight-loss drugs by the early 2030s. MBX is focused on therapies addressing endocrine and metabolic disorders, such as diabetes and obesity.

Recent Developments

Last week, BioAge Labs, a startup concentrating on obesity therapies, also filed for an IPO.

Lead Candidate

MBX’s primary experimental candidate, MBX 2109, targets chronic hypoparathyroidism— a condition characterized by insufficient levels of parathyroid hormone affecting calcium levels in blood and bones. This therapy is currently under mid-stage study, with data expected next year.

MBX is also developing MBX 4291, an experimental obesity treatment that simulates the effects of two gut hormones, GLP-1 and GIP, now in preclinical development. Eli Lilly’s tirzepatide, marketed as Zepbound for weight loss and Mounjaro for diabetes, also mimics these gut hormones.

Financials

The proposed offering follows MBX’s recent $63.5 million funding round, led by Deep Track Capital.

Offering Details

MBX aims to raise up to $136 million by offering 8.5 million shares priced between $14 and $16 each.

Listing

MBX is set to be listed on the Nasdaq Global Select Market under the symbol “MBX”. J.P. Morgan, Jefferies, Stifel, and Guggenheim Securities are underwriting this offering.