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
Bristol Myers Squibb’ sNDA for Rare Heart Disease Treatment Accepted by the FDA
2022-10-21
R&D
Potential Novel Anti-thrombotic Treatment by Ionis Pharmaceuticals
2022-07-28
R&D
Verve and Vertex Agree to Co-Develop In Vivo Gene Editing Program for Liver Disease
2022-07-21
LATEST
Axsome’s AXS-05 Achieves Endpoints In Alzheimer’s Agitation Trial
2022-11-29
Spectrum to Cut 75% of Staff and NSCLC Program Following CLR
2022-11-28
Full-Life Technologies to Acquire Focus-X Therapeutics, Bolstering Peptide-Focused Radiopharmaceutical Pipeline
2022-11-28
Medeologix Acquires Three Silicon Valley Medical Device CDMO Companies and Establishes One-Stop Shop Mass Production Facilities in Taiwan
2022-11-28
GenFleet Therapeutics to Present Data from Phase I Trial of GFH009 Monotherapy at the 2022 Annual Meeting of American Society of Hematology (ASH)
2022-11-28
Everest’s Renal Drug Gets Placed On Fast Track For Approval In Taiwan And Korea
2022-11-28
Canada Authorizes Roche’s Polivy as First-Line Lymphoma Treatment
2022-11-27
EVENT
2022-12-01
BIOCHINA 2022
Online
2022-12-10
64TH ASH ANNUAL MEETING & EXPOSITION
New Orleans, USA
2022-12-14
BIOHK2022
Hong Kong, China
2023-01-07
7th Asia Microbiome Conference
Taipei, Taiwan
Scroll to Top

Create an account with us now to say goodbye to all the pop-ups!