Eye disease therapy developer EIR Biopharma files for a $17 million IPO
IPO Overview
EIR Biopharma, a preclinical biotech developing in-licensed therapies for eye diseases, filed on Tuesday with the SEC to raise up to $17 million in an initial public offering.
The San Francisco, CA-based company plans to raise $17 million by offering 3.8 million shares at a price range of $4 to $5.
EIR Biopharma is an early-stage biopharmaceutical developer focused on treatments for eye diseases. It licenses preclinical drug candidates from academic institutions and advances them toward clinical development, targeting assets that address defined unmet needs. Its product candidates include EIR-0205, a small-molecule therapy in development for dry age-related macular degeneration （dry AMD） designed to extract lipofuscin from the retinal epithelium, and EIR-1003, a peptidomimetic candidate designed to mimic ephrin ligands and promote retinal nerve regeneration in optic nerve injury. The company is conducting IND-enabling activities for both programs and plans to initiate human clinical studies beginning in 2027.
EIR Biopharma was founded in 2022 and plans to list on the NYSE American, although it has not yet selected a symbol （RC: ticker: EIRB.RC）。 Kingswood Capital Markets is the sole bookrunner on the deal.
About the Company
We are an early-stage biopharmaceutical company focused on developing therapeutics for the treatment of eye disease. Combined, our founders have more than 50 years of senior level management experience in the biotechnology, pharmaceutical, and biopharma industries, including leadership roles at Intercept Pharmaceuticals, Iovance Biotherapeutics, and GT Biopharma. Our strategy is to negotiate worldwide exclusive licenses for the right to develop therapies for the treatment of eye disease; we target preclinical assets that promise to meet clear clinical needs and that can be advanced to a clinical stage with the investment of several million dollars over 14 to 18 months. Our principal preclinical assets have been licensed from prominent research institutions, including the Weill Cornell Medical College of Cornell University and the University of Miami. EIR-0205 is a small molecule drug we licensed from Cornell University that we intend to develop for treatment of the atrophic “dry” form of age-related macular degeneration （dry AMD）。 EIR-0205 is a functionalized cyclodextrin designed to extract lipofuscin, a waste product that accumulates in the retinal epithelium causing degeneration of the retina leading to dry AMD. We are currently soliciting proposals from CROs for the activities necessary to enable submission of an Investigational New Drug （IND） application with the FDA.