Inflammation-focused Rezera sets terms for IPO
Geoffrey McDonough, president & CEO of Rezera.
Rezera, formerly known as NodThera until a rebrand earlier this year, has announced the terms of its planned Nasdaq IPO, hoping to raise upwards of $200 million for its NLRP3 inflammasome inhibitor pipeline.
The Boston, Massachusetts-headquartered company – which runs its R&D out of a facility in Cambridge, UK – says it plans to offer 16.7 million shares at a price range of $11 to $13, with GSK already pledging up to $25 million for the IPO. If it goes through, Rezera intends to trade on the Nasdaq under the RZRA symbol.
Rezera has built its company around inhibitors of NLRP3 inflammasomes, protein complexes that form part of the body’s natural defence against pathogens, and reckons its drug candidates have potential utility across a broad range of central nervous system, liver, kidney, and cardiometabolic diseases.
The company's lead candidate, ruvonoflast (formerly NT-0796), has already completed two phase 2 trials in cardiometabolic indications, including as an adjunct to Novo's Wegovy (semaglutide) in obesity, but it has selected peripheral artery disease (PAD) as the lead indication. A phase 3 trial of the oral drug, called REVEAL-PAD, is due to start in the first half of 2027, with results expected in 2028, according to Rezera's IPO prospectus.
The company is hoping that a single, well-designed phase 3 trial could be enough to support filings in PAD, based on discussions with regulators in the US and Europe, as there are currently no approved therapies that directly target the inflammatory pathways that drive disease progression in PAD. It is targeting first filings for the drug in 2029.
PAD is a severe form of atherosclerotic cardiovascular disease that is under-screened and underdiagnosed and represents a massive commercial opportunity, as it affects approximately 230 million people globally.
Meanwhile, Rezera is also developing trabzanoflast (formerly NT-0150), a brain-penetrant NLRP3 inhibitor that has completed first-in-human testing, for neuroinflammatory indications such as Parkinson's, Alzheimer's, and amyotrophic lateral sclerosis (ALS).
Proceeds from the IPO will go towards the phase 3 trial of ruvonoflast and preparations for commercialisation, along with the development of its earlier-stage pipeline and general corporate expenses. The company hopes to price its listing next week.
