Rezera, a biotech company preparing to enter Phase 3 clinical trials with an oral NLRP3 inhibitor for inflammatory diseases, unveiled the terms of its initial public offering on Thursday.
The Boston, Massachusetts-based company plans to raise $200 million by offering 16.7 million shares at a price range of $11 to $13 per share.
New investor and affiliate GSK (GSK) has indicated an interest in purchasing up to $25 million worth of shares in the IPO, representing 13% of the deal.
At the midpoint of the proposed range, Rezera would command a fully diluted market value of $254 million.
Rezera is developing oral NLRP3 inhibitors for cardiovascular and neuroinflammatory diseases. NLRP3 is an upstream driver of sterile inflammation.
Its lead candidate, ruvonoflast, has completed two Phase 2 trials in cardiometabolic disease, and the company plans to launch a Phase 3 trial in peripheral artery disease (PAD) in the first half of 2027, with data expected to read out in 2028.
The company is also developing trabzanoflast, a brain-penetrant NLRP3 inhibitor that has completed a Phase 1 trial for neuroinflammatory indications.
The company retains global rights to all of its drug candidates.
Founded in 2016, Rezera plans to list on the Nasdaq under the ticker symbol "RZRA."
Jefferies, TD Securities and Cantor Fitzgerald are serving as joint bookrunners on the deal.
Pricing is expected in the week of November 9, 2026.
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