Odyssey Therapeutics Advances in Clinical Trials and Files for U.S. IPO
Odyssey Therapeutics, a Boston-based biotechnology company established in 2021, has recently submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC). The company aims to raise $100 million through this IPO and plans to list on NASDAQ under the ticker symbol "ODTX".
Focus on Autoimmune and Inflammatory Diseases
Odyssey Therapeutics is dedicated to developing drugs that precisely target the pathology of autoimmune and inflammatory diseases. The company's leading drug candidate, OD-07656, is a small molecule scaffold inhibitor of receptor interacting protein kinase 2. Odyssey has outlined plans to initiate a Phase 2a monotherapy trial for ulcerative colitis in the first quarter of 2025, followed by a Phase 2a combination therapy trial with Vedolizumab in the first half of 2026.
Preclinical Projects and Financial Overview
In addition to OD-07656, Odyssey Therapeutics is advancing two preclinical projects: a small molecule scaffold inhibitor of interleukin-1 receptor-associated kinase 4 and an agonist therapy targeting tumor necrosis factor receptor 2. For the 12 months ending September 30, 2024, the company reported collaboration revenue of $3 million.
Odyssey Therapeutics' commitment to addressing unmet medical needs in autoimmune and inflammatory diseases through innovative drug development and strategic clinical trials positions it as a noteworthy entity in the biotechnology sector.
