BioAge Labs (BIOA.US) Expands IPO to 11 Million Shares Priced at $18 Each, Advancing Oral Obesity Drug Azelaprag into Phase 2 Trials

Intelligent Finance APP learned that the biotechnology startup BioAge Labs (BIOA.US) is planning to raise up to $198 million through an initial public offering (IPO). The company plans to issue 11 million shares at $18 per share, which falls within the previously set price range of $17 to $19. Notably, BioAge Labs initially planned to issue 7.5 million shares but increased the number to 10.5 million shares on Wednesday morning. Meanwhile, Sofinnova is expected to invest $10.6 million in a concurrent private placement, which is lower than the initially planned $15 million.

BioAge Labs is a clinical-stage biopharmaceutical company focused on leveraging the biology of human aging to develop treatments for metabolic diseases such as obesity. Metabolic diseases represent one of the biggest challenges in global healthcare, and BioAge Labs' lead candidate, Azelaprag, is an orally administered small molecule that has demonstrated good tolerability in 265 subjects across eight Phase 1 clinical trials. In preclinical models of obesity, Azelaprag significantly enhanced GLP-1R agonist-induced weight loss while improving body composition and muscle function.

The potential of Azelaprag is not limited to weight loss; it also leverages the company’s unique technology platform and proprietary human datasets to identify molecular changes associated with aging, aiming to improve body composition and muscle function. BioAge Labs is currently conducting Phase 2 clinical trials to evaluate the combined application potential of Azelaprag with existing obesity treatments, with the goal of developing a fully oral combination therapy for obesity. Top-line data from these trials are expected to be released in the third quarter of 2025.

In addition, BioAge Labs is advancing the development of a brain-penetrant NLRP3 inhibitor for the treatment of neuroinflammation-driven diseases, with plans to submit an IND application in the second half of 2025.

BioAge Labs Plans to Go Public on Nasdaq Under the Ticker Symbol BIOA. Goldman Sachs, Morgan Stanley, Jefferies, and Citi are the Joint Bookrunners for the Offering.