Eli Lilly and Sanofi double-endorse Scribe Therapeutics to expand IPO to raise US$129 million
Scribe Therapeutics Inc., a CRISPR gene editing company co-founded by Nobel Prize winner Jennifer Doudna. (NASDAQ: SCTX) announced the expansion of its initial public offering, issuing 8.58 million shares at a price of $15 per share, successfully raising $128.7 million. The issuance price was set at the high end of the range of 13 to 15 US dollars, and the issuance scale was expanded from the original plan of 7.2 million shares. The stock was officially launched on July 24. Global markets begin trading. The IPO received double endorsement from the two major pharmaceutical giants. Existing shareholders (Eli Lilly) expressed its intention to increase its holdings by approximately US$10 million in the IPO to maintain a shareholding ratio of approximately 11%. At the same time, (Sanofi) purchased 500,000 shares through a simultaneous private placement at the same price, with an investment of approximately US$7.5 million. Both pharmaceutical companies have previously established strategic partnerships with Scribe. Scribe Therapeutics focuses on developing CRISPR-based in vivo gene drugs. The core drug candidate STX-1150 uses epigenetic silencing of the PCSK9 gene to permanently reduce low-density lipoprotein cholesterol. The first human trial has been launched in Australia. Preliminary data are expected to be released in the first half of 2027. The company has two follow-up projects, STX-1200 and STX-1400, targeting lipoprotein(a) and triglycerides, which are expected to enter Phase I clinical trials from 2027 to 2028. In terms of finance, the company has no products on the market yet. In the quarter ended March 31, 2026, its cooperation revenue was US$2.2 million and its net loss was US$17.4 million. The company expects that the funds raised from the IPO and private placement will be sufficient to support operations until the first half of 2029. The underwriters have a 30-day over-allotment option to subscribe for up to 1.287 million additional shares. Leerink Partners, , Guggenheim Securities and Serves as joint bookrunners.