ADiTxT Therapeutics Files for $25 Million IPO

January 16, 2020

On 1/15/2020 ADiTxt filed the paperwork for their $25 Million IPO. The offering will consist of common stock and warrants. The Loma Linda, CA based company is focused on developing treatments that prolong life and enhance life quality of transplant patients. The company intends to trade on NASDAQ  under the symbol “ADTX."

According to the company, in spite of immunosuppressive drugs, most transplanted organs ultimately fail and around 40% of transplant patients survive no more than five years. The company has an exclusive worldwide license for commercializing a nucleic acid-based technology, named Apoptotic DNA Immunotherapy™ (ADi™), which utilizes a novel approach that mimics the way the body naturally induces tolerance to its own tissues.

The company intends to develop ADi products for organ transplantation, skin grafting, autoimmune diseases, allergies, and further indications, with the initial focus on skin allografts and psoriasis, as they believe these indications will be most efficient in providing safety and efficacy data in clinical trials. The therapy is currently in pre-clinical development, though ADiTxT says it has been successfully tested in several preclinical models.

ADiTxT plans to use approximately half of the expected proceeds to fund development through Ph I/IIa and the remainder for general working capital purposes.

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