Sage Therapeutics

Sage Therapeutics ($SAGE)
Based: Cambridge, MA
IPO price: $18
Close Sept. 30: $31.50
Change: Up 75%
Raised: $90 million

Scoop: Speaking of gene therapy, Third Rock Ventures startup Sage Therapeutics repeatedly dialed up its asking price and deal size on the way to a $90 million summer IPO. And the revised valuation still left money on the table, as investors bid up the biotech's shares by more than 50% on Day 1, an expression of faith in the company's plans to develop gene therapies for rare CNS disorders. Sage plans to use $10 million of its proceeds to fund Phase I/II study of SAGE-547, a therapy for super-refractory status epilepticus (SE). Another $10 million will pay for preclinical work on SAGE-689, designed to treat adjunctive SE, with $7 million earmarked for SAGE-217, a pre-IND treatment designed to be a maintenance therapy for the disease, and the rest going toward general corporate costs. SE is a rare, life-threatening seizure condition with no approved treatments, according to the company.

For more:
Sage takes to the FDA fast track with its lead rare disease drug
Sage soars after banking $90M in an up-sized IPO
Sage snags $38M from A-list VCs to bankroll its seizure drugs
Third Rock startup Sage banks $20M as it 'thinks big' about CNS drugs

Sage Therapeutics

Suggested Articles

In this week's EuroBiotech Report, AstraZeneca plans 2020 lupus filing, Roche's SMA trial hits endpoint and Kiadis cuts staff in R&D pivot.

In our EuroBiotech roundup this week, NEC and Vaximm ink cancer vaccine pact, Compugen posts cancer data and Lunac raises cash.

Biotech venture fund ATAI Life Sciences has partnered with artificial intelligence drug discovery specialist Cyclica to form a new JV.