Kezar Life Sciences (South San Francisco, Calif.) filed Thursday to raise $80.5 million in an IPO on NASDAQ underwritten by Jefferies, Cowen, Wells Fargo and William Blair.
Kezar is developing immunoproteasome-targeted therapeutics to selectively suppress the hyperactive immune cells that drive autoimmunity. It was spun out from the Onyx Pharmaceuticals Inc. subsidiary of Amgen Inc. (NASDAQ:AMGN) in 2015 (see BioCentury, Sept 22, 2017).
Lead candidate KZR-616 is in Phase Ib/II testing for lupus and lupus nephritis. Kezar expects to report top-line Phase Ib data for the selective immunoproteasome inhibitor next year.
In 2019, Kezar expects to start up to four additional trials evaluating the candidate in autoimmune diseases.
Kezar has raised $73 million in equity, including a $50 million, oversubscribed series B round last year led by Cormorant Asset Management and Morningside Ventures.