GENE ONLINE|News &
Opinion
Blog

2021-06-20| IPOTechnology

Verve Makes Successful Wall Street Debut on Back of its Promising Base Editor

by Isha Kapoor
Share To

Verve Therapeutics, the first biotech to be backed by Google Ventures, is pioneering a transforming treatment approach for patients with chronic cardiovascular disease (CVD) via a highly sophisticated and precise single-course gene editing medicine. Led by the renowned cardiologist Dr. Sekar Kathiresan, the Cambridge, MA-based company made its wall street debut last week.

On June 16th, the company announced the pricing of its IPO of 14,035,789 shares of its common stock at $19.00 per share and raised $266.7 million. It began trading on the Nasdaq Global Market under the ticker “VERV” from June 17th. Since then, its shares have gained 19% after hitting a high of 68% on its first day of trading. The offering is expected to close on June 21st. J.P. Morgan, Jefferies, Guggenheim Securities, and William Blair are the joint book-running managers for the IPO.

 

A One Time Treatment for Heart Disease

The current treatment paradigm of CVD is chronic and fragile. It is often limited by patients’ poor adherence to statin therapy, high cost, side-effects, timing, regular health care access, thus leaving many patients without timely adequate care.

Verve’s goal to develop “once-and-done” therapies to treat heart diseases has attracted huge capital from investors. In January 2021, Verve raised $94 million in investments as part of a Series B financing, bringing its total funding to $217 million.

Verve’s lead product, VERVE-101, is a single intravenous injection designed to treat Heterozygous Familial Hypercholesterolemia (HeFH), a potentially fatal CVD affecting ~31 million patients globally. Patients with HeFH suffer more heart attacks owing to a high build-up of low-density lipoprotein cholesterol (LDL-C), aka bad cholesterol in coronary arteries. 

VERVE-101 consists of adenine to guanine base editor messenger RNA (mRNA) and an optimized guide RNA that uniquely turns off the PCSK9 gene in the liver via lipid nanoparticle (LNP)-mediated delivery, resulting in sustained reduction of blood LDL-C levels. It is currently evaluated in IND-enabling studies.

Unlike CRISPR, which resorts to double-stranded breaks to fix mutant stretches of DNA, base editing just changes one DNA base without affecting the bases around it. This, in turn, minimizes the off-target effects generated by the CRISPR-Cas9 gene editing machinery.

Verve’s “once-and-done” approach is touted to have huge potential in the CVD market, the competition from current players like Sanofi, Regeneron, Esperion Therapeutics, and others notwithstanding.

Editor: Rajaneesh K. Gopinath, Ph.D.

Related Article: Ginkgo Bioworks to Go Public Via a Colossal SPAC Deal Valued at $17.5 Billion

 

©www.geneonline.com All rights reserved. Collaborate with us: service@geneonlineasia.com
Related Post
Cell and Gene Therapy Landscape in Japan is Moving Beyond Oncology
2022-05-27
Verve Cleared to Test Gene Editing Drug for Heart Disease in Humans
2022-05-12
Top 10 Biotech IPOs on NASDAQ in 2021
2022-01-19
LATEST
Ascletis Announces U.S. IND Filing of Oral RdRp Inhibitor Drug Candidate ASC10 for COVID-19
2022-07-05
Breakthrough Zebrafish Genome Database Now Available
2022-07-05
WuXi Biologics Adds Microbial Fermentation to CDMO Offering in Hangzhou
2022-07-05
Sanofi Launches Nonprofit Brand To Distribute Medicines to Low-Income Countries
2022-07-05
As Private Equity Sale Becomes Less Likely, Novartis May Gravitate Towards Sandoz Spinoff
2022-07-04
Ascletis Begins Study of PD-L1 Antibody Candidate Against HIV
2022-07-04
Akebia Therapeutics Gains $55M Following Deal Termination by Otsuka Pharmaceutical
2022-07-04
EVENT
2022-07-27
BIO Asia–Taiwan 2022
Online and on-side
2022-08-03
BIOPLUS-INTERPHEX KOREA
Seoul
2022-09-09
ESMO 2022 Exhibition
Online and on-side
2022-09-21
CSCO Educational Book 2022
Xiamen
2022-09-21
RESI Boston
Boston
2022-09-26
Human Gene Therapy Conference
Australia
Scroll to Top