Viamet Pharmaceuticals (VMET) Files $100M Common Stock IPO

Viamet Pharmaceuticals Corp. (Nasdaq: VMET) filed a registration with the U.S. SEC for an IPO of its common stock. THe proposed maximum offering price is $100 million.

The company plans to list on the Nasdaq Global Market under the ticker, VMET.

Underwriters include: Morgan Stanley, Goldman, Sachs & Co., Guggenheim Securities, and Needham & Company.

Viamet Pharma is a biopharmaceutical company focused on the discovery, development and commercialization of novel pharmaceuticals based on our proprietary metalloenzyme chemistry and biology technology platform. Metalloenzymes, which contain a metallic atom that is primarily responsible for enzyme activity, are an important class of drug targets for the treatment of a broad range of diseases. We utilize our technology to design novel drugs that we expect will have significant benefits as compared to currently marketed metalloenzyme inhibitors, including greater efficacy, improved safety, more favorable pharmacokinetic properties and superior therapeutic index. We have leveraged our technology to develop several product candidates that we believe have the potential to become best-in-class antifungal agents. VT-1161, our lead product candidate, is currently in separate Phase 2b clinical trials for the treatment of onychomycosis, a fungal infection of the nail, and recurrent vulvovaginal candidiasis, a recurrent form of vaginal yeast infection. In recent interim analyses of these Phase 2b clinical trials, we observed positive results in terms of both safety and efficacy for both indications. We expect final data on the principal efficacy and safety endpoints, or top-line final data, from our ongoing Phase 2b clinical trials to be available during the fourth quarter of 2016. Our other product candidates include VT-1129 for the treatment of cryptococcal meningitis, a life-threatening invasive fungal infection of the central nervous system currently in a Phase 1 clinical trial, and VT-1598 for the treatment of coccidioidomycosis, a fungal infection in the southwestern United States also known as Valley Fever, currently in IND-enabling studies. In addition to the development of novel antifungal agents, we are leveraging our technology to pursue drug discovery programs in oncology and certain orphan diseases.

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