Landos Biopharma guns for a $100M IPO to boost AI autoimmune R&D work

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Xontogeny’s Landos Biopharma is jumping into warm biotech IPO waters as it looks to go public with a $100 million offering.

Landos is based upon the work of CEO Josep Bassaganya-Riera, Ph.D., a serial entrepreneur and Virginia Tech professor who outlined the potential for targeting the lanthionine synthetase c-like protein 2 (LANCL2) pathway to affect immune and inflammatory responses in a 2014 paper.

Bassaganya-Riera went on to discover a drug that selectively binds to LANCL2, found Landos and pick up $10 million from Perceptive Advisors to drive its lead program.

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Landos Biopharma was the first biotech to come out of Xontogeny, the accelerator started by former Sarepta Therapeutics chief Chris Garabedian. Back in the summer of 2019, it picked up $60 million series B to propel its lead program into phase 2 for inflammatory bowel disease (IBD).

Now, it wants a $100 million IPO, according to its Securities and Exchange Commission filing, to help boost its AI-based LANCE platform, which sees to make predictions of immunometabolic function. To date, it has identified seven novel immunometabolic targets and product candidates across 14 indications.

Its leading candidate, BT-11, has completed the induction phase of a phase 2 trial in mild to moderate ulcerative colitis (UC) patients, with plans to kick-start a phase 3 in UC and a phase 2 for moderate to severe Crohn's disease in the coming months.

Landos is looking to provide a new option for patients with moderate to severe cases of IBD for whom current treatments are inadequate or have side effects.

People with IBD may be treated with anti-inflammatory drugs or immunosuppressants such as anti-TNF meds, but Landos believes the former can be used only in mild inflammation and reckons the latter only works in up to 60% of patients. It will now seek to out that theory to the test in later-stage trials.

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