Kodiak’s lead candidate has been developed for the treatment of wet age-related macular degeneration (AMD).
Palo Alto-based Kodiak Sciences, a clinical-stage company developing novel treatments for ophthalmic diseases. The company’s most advanced candidate was developed based on its internal Antibody Biopolymer Conjugate, or ABC™, platform technology. The company has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO).
Kodiak’s lead candidate, KSI-301, is a novel anti-VEGF biologic with an extended ocular half-life that is being developed for the treatment of wet age-related macular degeneration (AMD), a degenerative disease caused by the growth of abnormal blood vessels (choroidal neovascularization) underneath the retina. If untreated or undertreated, wet AMD leads to hemorrhage, scar formation, and permanent damage that results in blindness.
The company has a pipeline of other products in various stages of development, including KSI-501, a bispecific anti-IL-6/VEGF bioconjugate and dual inhibitor ABC for the treatment of neovascular retinal diseases such as wet AMD and diabetic retinopathy (DR). KSI 301 may block the ocular effects of high blood sugar levels. KSI-501 is a novel dual inhibitor biologic that blocks activation of both VEGF and IL-6 and may be suitable as a next-generation therapy for the treatment and prevention of neovascular retinal diseases such as wet AMD and DR.
The IPO is valued up to $100 million and the company will list its shares on the Nasdaq under the symbol KOD. Underwriters for the offering include Morgan Stanley, Merrill Lynch, Barclays and Chardan. Proceeds of the IPO will be used to advance KSI-301 through additional Phase 1 and 2 trials around the world and conduct further R&D of its pipeline, including initiating clinical trials with KSI-501.