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Rapport Therapeutics, a clinical-stage biopharma backed by the venture capital arm of Johnson & Johnson (NYSE:JNJ), submitted SEC filings on Friday to raise up to $100M as part of an initial public offering.
Johnson & Johnson Innovation-JJDC and Third Rock Ventures joined hands in February 2022 to help establish Rapport, whose neuromedicines are designed to target receptor-associated proteins ((RAPs)).
Its lead candidate, RAP-219, has undergone Phase 1 trials in healthy adults to assess safety and tolerability.
The drug belonging to a class of molecules known as AMPA receptor (“AMPAR”) negative allosteric modulators is set to enter a Phase 2a proof-of-concept trial in mid-2024 for patients with drug-resistant focal epilepsy, with topline data expected a year later.
Boston, MA-based Rapport seeks a public listing on the Nasdaq under the ticker symbol “RAPP,” with Goldman Sachs, Jefferies, TD Cowen, and Stifel as joint bookrunners. The company didn’t disclose the pricing terms of the offering.
