ATyr Pharma Inc. is planning to raise approximately $76 million in an IPO May 7th. The company will issue 5,400,000 shares at a price of $13.00 to $15.00 per share.
The San Diego company, which was founded in 2005, plans to list on the Nasdaq under the symbol LIFE.
The clinical stage firm develops medicines for rare diseases. Its technology is based on physiocrine biology, a newly discovered class of naturally occurring physiological modulators. The company has identified around 300 to date. The company believes they promote homeostasis, a fundamental process of restoring stressed or diseased tissue to a healthier state. Its lead product candidate is the Phase 1b/2-stage Resolaris, for the potential treatment of adult patients with facioscapulohumeral muscular dystrophy (FSHD), a severe and rare genetic disorder characterized by muscle weakness and wasting. The muscles most affected are those on the face, around the shoulder blades and in the upper arms. The FDA designated Resolaris an Orphan Drug for FSHD in February.
The company employs 49 people and is located at 3545 John Hopkins Court, Suite #250, San Diego.