Boundless Bio, Oncology Startup Targeting Extrachromosomal DNA, Files for $100 Million IPO

- Boundless Bio, a San Diego-based early-stage oncology startup, has filed with the SEC for an initial public offering (IPO), seeking to raise up to $100 million.
- The company focuses on developing therapies for oncogene amplified tumors by targeting extrachromosomal DNA (ecDNA).
- Boundless Bio uses its proprietary Spyglass platform to identify targets essential for ecDNA functionality in oncogene amplified cancer cells, designing and developing small molecule drugs called ecDNA-directed therapeutic candidates (ecDTx).
- Their lead ecDTx, BBI-355, is a novel, oral, selective inhibitor of checkpoint kinase 1, which manages ecDNA replication and transcription in cancer cells.
- BBI-355 is currently being studied in a first-in-human, Phase 1/2 trial in patients with oncogene amplified cancers, with preliminary data expected in the second half of 2024.
- Boundless Bio plans to list on the Nasdaq under the symbol BOLD.
- The company has raised $253.5 million and has cash, cash equivalents, and short-term investments of $120.8 million as of December 31, 2023.
- Boundless Bio is backed by the venture capital arm of Bayer and Arch Venture Partners.
- The company's pipeline includes three cancer drugs, a diagnostic test, and a proprietary platform to investigate other potential cancer DNA.
- Boundless Bio aims to use the proceeds from the IPO to further develop its cancer therapies and advance its drugs through clinical trials.
- The company had a net loss of about $49.4 million in 2023, with a deficit of $136.1 million as of December 31, 2023.
- The IPO is underwritten by Goldman Sachs, Leerink Partners, Piper Sandler, and Guggenheim Securities.