RAPT Therapeutics Files For $86 Million IPO

Clinical stage biopharma RAPT Therapeutics filed the paperwork for its IPO on 6/5/19. The company is focused on developing therapies targeting immune drivers of cancer and inflammation. They intend to trade on NASDAQ under the symbol, “RAPT.”

RAPT currently has four therapies in development. Three oncology therapies and one for inflammation. Its lead product, FLX475 is in PH I trials.

FLX475 is a CCR4 Inhibitor that is intended to block immunosuppresive regulatory T cells that downregulate immune response. FLX475 blocks the migration of Treg cells specifically into tumors, but not healthy tissues, without depleting Treg  throughout the body. The company believes this will avoid many of the adverse safety events observed with Treg-depleting antibodies. FLX475 is being studied both as monotherapy and in combination with Keytruda.

RAPT raised $37 Million in Series C round in June of 2019.