Structure Therapeutics Inc. (Nasdaq: GPCR), a Sino-US firm formerly known as ShouTi Inc., has filed for an initial public offering (IPO) on the NASDAQ stock exchange. The company aims to raise USD 119 million gross through the issuance of American Depositary Shares (ADS), though the final figure may differ. Structure operates out of San Francisco and Shanghai, with ambitions to replace biologics and peptides with superior small molecule drugs, specifically targeting G-protein coupled receptors (GPCR) using its structure-based drug design platform and advanced computational technologies.
Pipeline and Lead Candidate
The funds raised from the IPO will support the development of Structure’s pipeline. The lead candidate is a glucagon-like-peptide-1 receptor (GLP-1R)-targeted molecule for type 2 diabetes and obesity, currently completing a Phase Ib study and preparing for a Phase IIa proof-of-concept trial. The company also has a GLP-1R/GIPR (gastric inhibitory polypeptide receptor) agonist in the discovery stage, an apelin receptor (APJR) agonist for cardiopulmonary indications in Phase I, and a differentiated lysophosphatidic acid 1 receptor (LPA1R) antagonist for idiopathic pulmonary fibrosis (IPF) at the IND-enabling stage.
Financing and Backers
Structure Therapeutics has attracted USD 188 million in financing rounds, with backers including a string of Asia-based and Chinese investors such as Lilly Asia Ventures, Eight Roads, F-Prime Capital Partners, Qiming Venture Partners, Sequoia Capital China, TF Capital, and Wuxi AppTec. The IPO represents a significant step in the company’s growth strategy, positioning it to further develop its innovative pipeline of GPCR-targeted therapies.-Fineline Info & Tech
