A Biotech Going Through the Nose to Treat the Brain Plots Alternative Path to Public Markets
NeOnc Technologies, developing a brain cancer drug delivered intranasally to bypass the blood-brain barrier, is pursuing a direct listing after withdrawing from a traditional IPO due to lukewarm investor interest. The company's lead drug, NEO100, has shown safety in Phase 1 trials and is now in Phase 2a testing for glioblastoma patients with IDH1 mutations. NeOnc aims to raise $75 million initially and is focusing on glioblastoma treatment, with potential applications in other brain therapies.
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NeOnc Technologies, developing a brain cancer drug delivered intranasally to bypass the blood-brain barrier, is pursuing a direct listing after withdrawing from a traditional IPO due to lukewarm investor interest. The company's lead drug, NEO100, has shown safety in Phase 1 trials and is now in Phase 2a testing for glioblastoma patients with IDH1 mutations. NeOnc aims to raise $75 million initially and is focusing on glioblastoma treatment, with potential applications in other brain therapies.