Sionna Therapeutics Raises $191 Million in Upsized IPO for Cystic Fibrosis Drug Development

Sionna Therapeutics raised $191 million in its initial public offering, selling 10.6 million shares at $18 per share, the high end of its proposed range8.

The company is developing novel therapies for cystic fibrosis, focusing on normalizing the function of the CFTR protein by stabilizing its NBD1 domain8.

Sionna has two lead NBD1 stabilizer candidates in Phase 1 trials and plans to begin Phase 2a trials in the second half of 20258.

The biotech aims to challenge Vertex Pharmaceuticals' dominant position in the cystic fibrosis market5.

Sionna's approach differs from current treatments by targeting the NBD1 region of the CFTR protein, which has been historically difficult to drug5.

The company's pipeline includes drugs licensed from AbbVie and aims to develop both standalone treatments and combination therapies with existing drugs like Trikafta6.

Prior to the IPO, Sionna raised $182 million in a Series C financing round in March 20243.

The IPO proceeds will fund clinical development through 2026, allowing Sionna to design multiple early- and mid-stage trials5.

Sionna's Chief Medical Officer previously served as VP of Cystic Fibrosis at Vertex Pharmaceuticals8.

The company will be listed on the Nasdaq under the symbol SION8.

Sources:

3. https://www.biospace.com/sionna-closes-182m-series-c-in-potential-cystic-fibrosis-showdown-with-vertex

5. https://www.biopharmadive.com/news/sionna-therapeutics-cystic-fibrosis-series-c-vertex/709378/

6. https://www.biopharmadive.com/news/sionna-ipo-cystic-fibrosis-vertex/739229/

8. https://www.renaissancecapital.com/IPO-Center/News/109225/Cystic-fibrosis-biotech-Sionna-Therapeutics-prices-upsized-IPO-at-$18-the-h