Ventyx Biosciences (VTYX) Files IPO Registration Statement

Ventyx Biosciences (NASDAQ: VTYX) files registration statement for a proposed IPO.

The company describes itself as: "We are a clinical-stage biopharmaceutical company focused on advancing new therapies for millions of patients living with inflammatory diseases and autoimmune disorders. We believe our ability to discover and develop differentiated product candidates in an efficient manner allows us to address well-established multi-billion-dollar commercial markets and positions us to become a leader in the immunology market.

Our lead product candidate is VTX958, an oral, selective clinical-stage tyrosine kinase type 2 (TYK2) inhibitor. VTX958 is designed to selectively inhibit TYK2 without detectable inhibition of other Janus kinase (JAK) isoforms, which as observed in preclinical studies, supports the potential to avoid toxicities associated with broader JAK inhibition and, thus, other JAK inhibitors. We believe VTX958 has the potential to address a broad range of immune-mediated diseases, such as psoriasis, inflammatory bowel disease (IBD), psoriatic arthritis and lupus, each of which represent multi-billion-dollar market opportunities. We plan to develop VTX958 initially for psoriasis, psoriatic arthritis and Crohn’s disease, among other potential indications.

In addition, we are developing VTX002, an oral, selective Phase 2-ready sphingosine 1 phosphate receptor 1 (S1P1R) modulator for ulcerative colitis (UC). S1P1R is a clinically validated target and in our Phase 1 trial VTX002 was well tolerated at all doses tested. Based on these data, we plan to initiate a Phase 2 randomized, placebo-controlled clinical trial in the second half of 2021 to pursue the commercial opportunity in UC, which represented approximately $7 billion in worldwide sales in 2020."

Jefferies, Evercore ISI and Piper Sandler will serve as lead underwriters.

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