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Chinese-American drug developer Structure Therapeutics (GPCR), formerly known as ShoutTi, has filed to raise $100M through a US initial public offering.
Structure Therapeutics didn’t specify in its filing how many American Depositary Shares it intended to offer or the price, but indicated in an attached filing fee schedule that it was seeking to raise $100M, a number that is likely a placeholder and subject to change.
The biotech hopes to list its shares on Nasdaq under the symbol GPCR. Lead bookrunners include Jefferies, SVB Securities, Guggenheim Securities and BMO Capital Markets.
The company has been focused on developing drugs that target G-protein receptors, or GPCRs, to treat pulmonary, metabolic and cardiovascular diseases. Its lead drug candidate, GSBR-1290, is a GLP-1 receptor agonist for the treatment of Type 2 diabetes.
Incorporated in the Cayman Islands, Structure Therapeutics has operations in South San Francisco and Shanghai. The company was previously known as ShouTi.
