BioAge Labs Inc., a biotechnology company dedicated to developing therapies for metabolic diseases, has filed with the Securities and Exchange Commission (SEC) to raise up to $100 million through an initial public offering (IPO). The company, founded in 2015, intends to list its shares on the Nasdaq under the ticker symbol BIOA. BioAge Labs confidentially filed for the IPO on May 31, 2024. Goldman Sachs, Morgan Stanley, Jefferies, and Citi are acting as joint bookrunners for the offering. While no pricing terms have been disclosed, the IPO is expected to generate significant interest in the biotech sector.
BioAge Labs’ lead drug, Azelaprag, is an orally available small molecule that has been evaluated in eight Phase 1 clinical trials involving 265 individuals, demonstrating good tolerability. Preclinical studies in obesity models have shown that Azelaprag can more than double the weight loss achieved by a glucagon-like-peptide-1 receptor (GLP-1R) agonist while improving body composition and enhancing muscle function. Building on this promising data, BioAge is conducting two Phase 2 trials to investigate Azelaprag’s potential to significantly enhance weight loss when combined with a GLP-1R agonist.
The ongoing STRIDES clinical trial is examining the combination of Azelaprag with tirzepatide (marketed as Mounjaro by Eli Lilly and Company), with topline results anticipated in the third quarter of 2025. Additionally, BioAge plans to initiate a second Phase 2 trial in the first half of 2025 to evaluate Azelaprag in combination with semaglutide (marketed as Wegovy by Novo Nordisk A/S).
Furthermore, BioAge intends to launch a proof-of-concept trial in the first half of 2025 to assess the potential of Azelaprag as a monotherapy for improving insulin sensitivity, potentially expanding the drug’s therapeutic applications.
In addition to Azelaprag, BioAge Labs is developing a pipeline of orally available small-molecule brain-penetrant NLRP3 inhibitors. These inhibitors are targeted at treating diseases driven by neuroinflammation. The company plans to submit an Investigational New Drug (IND) application for an NLRP3 inhibitor in the second half of 2025, with the goal of initiating a Phase 1 trial in the first half of 2026 if the application is approved.
BioAge Labs’ commitment to developing novel therapies for metabolic diseases is further strengthened by its recent Series D financing round, which raised $170 million led by Sofinnova Investments in February 2024.
