On 2/19/18 Kaleido Biosciences filed for a $120 Million IPO. The company will offer 4,761,905 shares of  common stock. The expected price is between $20 and $22 per share. The shares will be listed on NASDAQ under the symbol, “KLDO.”

The company expects to use the proceeds from the offering to advance its current pipeline and discovery efforts. It will use approximately $60 million to advance programs in hyperammonemia in Phase 2 clinical trials including related CMC and clinical trial material requirements. It will additionally use the remaining proceeds and cash on hand to fund its pipeline outside of  hyperammonemia fund discovery efforts. The company currently has five candidates in development.

In June of 2018, Kaleido raised $101 million in Series C financing. Investors in that round included a subsidiary of the Abu Dhabi Investment Authority (ADIA), Fidelity Management and Research Company, Invus, and Rock Springs Capital.

If you want to keep up with current pharma and device news, please consider subscribing to our premium newsletter. The premium newsletter subscription includes access to our microbiome database. Subscriptions to just the database are also available.