(Reuters) – CAMP4 Therapeutics, a biopharmaceutical company backed by healthcare giant Kaiser Permanente, said on Monday it was targeting a valuation of up to $283 million in its initial public offering in the United States.
The company will join a pack of biotech firms that have listed their shares recently as a long-awaited policy-easing cycle begins. Startups are also looking to get ahead of the potential uncertainty from the U.S. presidential election next month.
CAMP4 is seeking proceeds of up to $80 million through a sale of 5 million shares priced between $14 and $16 each.
The Cambridge, Massachusetts-based company is developing therapies to treat a broad range of genetic diseases. Its lead product candidate, CMP-CPS-001, for treating the most prevalent urea cycle disorders is being evaluated in an early-stage clinical trial.
CAMP4 is led by Josh Mandel-Brehm, who previously worked at Biogen and Sanofi.
It will seek a listing on Nasdaq under the 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 Shilpi Majumdar)