G1 Therapeutics thinks it has a winner on its hands with CDK4/6 inhibitor trilaciclib and is embarking on an initial public offering to give it the resources it needs to bring it to market.
The Research Triangle Park biotech says it is hoping to raise around $115 million from the IPO, which comes a little over a year after G1 raised $47 million in a venture round on the strength of some early-stage data for its lead drug.
Going public signals G1's increasing confidence in trilaciclib (G1T28), which is in the same class as Pfizer's Ibrance (palbociclib)—the first drug of this type to reach the market in 2015 and already a $2 billion-a-year blockbuster—and Novartis' new entrant Kisqali (ribociclib). Eli Lilly is also nipping at the CDK4/6leaders' heels with its abemaciclib prospect, due to report late-stage data shortly.
READ MORE G1 pitches IPO to advance lung and breast cancer candidates
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