- On the heels of a $126 million crossover round in March, Flagship Pioneering-backed Omega Therapeutics Inc OMGA has priced a $125.8 million IPO to take its "epigenomic controllers" into the clinic.
- Omega had initially penciled in a $100 million raise earlier this month. It offered 7.4 million shares at $17 apiece, the midpoint of a $16 to $18 range.
- The Company earmarked about $39 million for the R&D of these "epigenomic controllers," another $78 million is set aside for IND-enabling studies, according to the S-1/A.
- The lead candidate, OTX-2002, is headed for a Phase I proof-of-concept study against c-myc, a "master" oncogene that crops up in a high percentage of tumor types.
- The Company expects to file an IND for that candidate in hepatocellular carcinoma in the first half of 2022.
- And two to three more investigational epigenomic controllers will be declared by mid-2022, the S-1/A states.
- Price Action: OMGA shares are trading at $16.85 during the market session on the last check Friday.
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