Industry
City Therapeutics raises $200 million in IPO to advance RNA interference drugs
The $200 million IPO will fund City Therapeutics’ RNA interference pipeline, including its lead clotting-disorder candidate.
City Therapeutics raised $200 million in an initial public offering to fund development of RNA interference medicines, BioPharma Dive and MedCity News reported. The company sold shares at $18 apiece and began trading on the Nasdaq under the ticker CTY on Friday, according to the outlets.
Its lead candidate, CITY-FXI, is designed to lower levels of Factor XI, a blood-clotting protein. City reported preliminary Phase 1 results in healthy volunteers showing FXI knockdown of 60% at the lowest dose and 85% at the highest. The company plans a Phase 2 study in people having knee replacement surgery, with a start planned for mid-2027, MedCity News reported.
The company’s pipeline also includes programs for Stargardt disease and anemia. BioPharma Dive reported that the IPO will support those medicines and earlier research into RNA interference treatments aimed at tissues beyond the liver, as well as partnerships with Bausch + Lomb and Biogen.
