Bio Blast Pharma
Tel Aviv-based biotech Bio Blast, which develops drugs for rare genetic diseases, has priced its IPO at $35.2m, or $11 per share. The company has granted underwriters the option to purchase up to 480,000 more. Bio Blast will use the symbol “ORPN” on the NASDAQ and the offer is expected to close on August 5.
Since its founding in 2012, Bio Blast has developed six drug candidates, but has made no submissions to the FDA. The company intends to use its IPO proceeds to fund clinical programmes for oculopharyngeal muscular dystrophy (OPMD), spinocerebellar ataxia type 3 (SCA3), spinal and bulbar muscular atrophy (SBMA), and other indications.
