SpringWorks IPO planned

19 August 2019

A start-up set up by US pharma giant Pfizer (NYSE: PFE) to take forward a number of drug programs, is planning an initial public offering (IPO).

USA-based SpringWorks Therapeutics, which launched in 2017 with a $103 million Series A financing and raised $125 million in a Series B round earlier this year, has filed a preliminary prospectus for a $115 million IPO.

The company’s lead candidate is small-molecule nirogacestat for the potential treatment of desmoid tumors, non-cancerous growths that occur in connective tissue, typically in the abdomen, arms and legs.

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