BioAge Raises $198 Million In IPO

On September 26, 2024, BioAge Labs raised $198 million in an IPO. The company is developing therapeutic product candidates for metabolic diseases, such as obesity, by targeting the biology of aging. BioAge’s lead product candidate, azelaprag, is an orally available small molecule agonist of APJ. Azelaprag has been well-tolerated in 265 individuals across 8 Phase 1 clinical trials, including a Phase 1b clinical trial where decreased muscle atrophy, preservation of muscle quality and improved metabolism were observed in subjects treated with azelaprag over a 10-day period.

Azelaprag has potential as an oral regimen to improve weight loss and restore both body composition and muscle function in patients on obesity therapy with incretin drugs. BioAge is also developing orally available small molecule brain penetrant NLRP3 inhibitors for the treatment of diseases driven by neuroinflammation. BioAge’s preclinical programs, based on novel insights from the BioAge’s discovery platform built on human longevity data, also have the potential to address key pathways in metabolic aging. The IPO is a huge milestone that will enable the development of novel therapies that treat metabolic diseases.

IPO Highlights

1. On September 26, 2024, BioAge offered 11,000,000 shares of its common stock at a IPO price of $18 per share.
2. Shares opened at $22.50 which was 25% above the IPO price.
3. BioAge raised $198 million.
4. BioAge is trading under the ticker symbol “BIOA".
5. BioAge is valued at $757.5 million, compared to $394.3 million in February 2024.
6. Goldman Sachs, Morgan Stanley, Jefferies, and Citigroup acted as joint book-running managers for the offering.

BioAge Pipeline

1. In mid-2024, BioAge initiated a Phase 2 trial of azelaprag in combination with tirzepatide for the treatment of obesity in older adults.
2. Azelaprag has potential as an oral regimen to improve weight loss and restore both body composition and muscle function in patients on obesity therapy with incretin drugs.
3. Azelaprag mimics the activity of the exerkine apelin, a peptide released in response to exercise due to muscle contraction.
4. BioAge says azelaprag in combination with GLP-1 drug has the potential for more than 20% weight loss at one year.
5. BioAge is also developing orally available small molecule brain penetrant NLRP3 inhibitors for the treatment of diseases driven by neuroinflammation.
6. BioAge’s preclinical programs, based on novel insights from the BioAge’s discovery platform built on human longevity data, also have the potential to address key pathways in metabolic aging.
7. BioAge has initiated a mid-stage trial in combination with Zepbound and plans to initiate a second such trial with Wegovy in the first half of 2025.

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Copyright ? 2024 Margaretta Colangelo. All Rights Reserved.

This article was written by Margaretta Colangelo. Margaretta is a leading AI analyst who tracks significant milestones in AI in healthcare. She's consulting at AI healthcare companies and she writes about some of the companies she's consulting with. Margaretta serves on the advisory board of the AI Precision Health Institute at the University of Hawai?i?Cancer Center @realmargaretta