Repare Therapeutics Inc., a St-Laurent, Québe based precision oncology company, has filed for initial public offering (IPO) to list its shares on NASDAQ with proposed symbol “RPTX”.
Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, Cowen and Company, LLC and Piper Sandler & Co. are acting joint book-running managers.
Cooley LLP and Stikeman Elliott LLP are acting as US and Canadian legal counsel to Repare respectively. Goodwin Procter LLP actas legal counsel to the underwriters.
Repare Therapeutics Inc. is a leading precision oncology company enabled by its proprietary synthetic lethality (SL) approach to the discovery and development of novel therapeutics. The company uses proprietary, genome-wide, CRISPR-enabled SNIPRx platform to systematically discover and develop highly targeted cancer therapies focused on genomic instability, including DNA damage repair. Repare Therapeutics’ lead product candidate, RP-3500, is an oral small molecule inhibitor for the treatment of solid tumors with specific DNA damage repair-related genomic alterations. It anticipates filing an investigational new drug, or IND, application in the second quarter of 2020 and initiating an open-label Phase 1/2 clinical trial of RP-3500 in the third quarter of 2020.
Repare Therapeutics intends to use the net proceeds to advance clinical development of RP-3500, to fund continued development of its preclinical programs and to fund working capital and other general corporate purposes.
Repare Therapeutics has raised US $147.5 million. Major investors including Versant Ventures (30.1% pre-ipo), MPM Capital (21.0%), OrbiMed (11.2%), Cowen Healthcare Investments (9.2%), Fonds de solidarité FTQ (7.5%), Redmile Group (6.8%), BVF Partners, Logos Capital, Celgene/Bristol Myers Squibb, and Amplitude Ventures.
In May 2020, Repare entered into a collaboration and license agreement with Bristol Myers Squibb, pursuant to which Bristol Myers Squibb agreed to pay us an initial upfront fee payment of US $50 million and to make an equity investment of US $15 million.
photo credit: Repare Therapeutics