Only a few months after raising $80 million in a Series B financing, Aimmune Therapeutics is hoping that its goal of creating a pharmaceutical-grade therapy for peanut and other allergies will help it raise as much as $115 million in an initial public offering.
The Brisbane, CA-based company, which changed its name to Aimmune from Allergen Research Corp. in May, tries to desensitize patients who are allergic to products like peanuts by exposing them to them. Xconomy reported in March, after the Series B raise, that the company gives its patients controlled doses of pharmaceutical-grade, standardized food allergens to increase the threshold of allergens a person can take.
Aimmune expects to begin a Phase 3 trial of its peanut allergy therapeutic in early 2016, after having completed a Phase 2 study of 23 patients this year. The patients were desensitized to a “clinically meaningful level” of peanut protein—at least 443 mg, which is about four times more than a person would ingest if they were accidentally exposed, the company said in a regulatory filing.
The drug, which is a daily oral therapy, has received fast-track designation from the FDA, Aimmune said. It is made up of a mixture of naturally occurring proteins and pharmaceutical-grade ingredients, the company says.
Aimmune expects to initiate Phase 2 studies for using the drug on two other food allergies in 2016, though it did not specify which ones. The company says there are no other therapies approved to cure or prevent the effects of food allergies on the market, and that epinephrine injections are used as an emergency response.
Foresite Capital led the Series B round. Aimmune has not listed how many shares it will sell or for how much.