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Scribe Therapeutics' upsized IPO

Illustration of a stock ticker with an EKG line pointing upwards

The week that was

Other deals of the week

Pipeline picks

Quote of the week

Scribe Therapeutics' upsized $128.7 million IPO could fund the biotech's operations into early 2029 and carry three cardiometabolic programs through clinical readouts, CEO Benjamin Oakes tells Axios Pro. 

Why it matters: Scribe (Nasdaq: SCTX) began trading today, despite having no human efficacy data for its lead drug.

Driving the news: The company sold 8.58 million shares at $15 each, above its initially marketed share count and at the top of its range.

How it works: Scribe uses CRISPR gene editing tools to target the PCSK9 gene, with the goal of lowering cholesterol levels without cutting or permanently changing the underlying DNA.

Oakes says the company's lead asset, STX-1150, is a silencing approach that doesn't actually edit the genome. 

Reality check: Scribe has only recently entered human testing, with data expected in the first half of next year.

The company also faces competition from existing treatments like pills and long-acting injections.

Yes, but: Oakes is betting that keeping cholesterol moderately lower for years may matter more than producing the largest short-term reduction.

"Our goal is not to create another PCSK9 inhibitor," Oakes says. 

What's next: Scribe expects initial Phase 1 data for STX-1150 in 2027, including safety, tolerability and LDL-lowering activity.

Oakes does not expect the company to need another financing before it has meaningful durability data for STX-1150, but expects durability evidence to accumulate through repeated follow-up. 

1 big thing: Scribe Therapeutics' upsized IPO

💊 General Bio raises $7.4M to develop cheaper oral peptides

The company is entering an increasingly competitive market with a lower-cost manufacturing pitch. 

Strategics and sponsors have their eyes on a limited pool of scaled manufacturers.

Big-ticket buys are giving psychedelic-drug development some mainstream validation — and making the path to an exit look clearer.

General Bio raises $7.4M to develop cheaper oral peptides

2. The week that was

• Crystalys Therapeutics, a San Diego-based company focused on gout treatments, raised $130m in Series B funding led by Frazier Life Sciences, with participation from Wellington Management, HBM Healthcare Investments, Soleus Capital, Cormorant Asset Management, Trails Edge Capital Partners, Pivotal bioVenture Partners and KCap Biotechnology Fund. Go deeper

• Transcripta Bio, a Palo Alto, Calif.-based AI-powered drug discovery company focused on neurological and neuromuscular diseases, raised $24m from Mayo Clinic, Omnimed, JAZZ Venture Partners and BlueYard Capital. Go deeper

• Brenus Pharma, a French immunotherapy biotech, raised an €11m Series A extension from Angelor, UI Investissement, Crédit Agricole, Noshaq, Orsa, BIO JAG, Bpifrance, Sambrinvest and Korea Omega Investment Corp. Go deeper

• Tikva Allocell, a Singaporean T-cell therapy biotech, raised an $8m Series A round led by Kantharos Capital. Go deeper

• Cheiron, a Los Altos, Calif.-based drug development operating system and software, raised an $8m seed round led by Menlo Ventures. Go deeper

• Sightera Biosciences, a Belgian developer of novel small-molecule therapies, raised €3m in pre-seed funding led by Entourage, Anacura and QBIC. Go deeper

• Life Science Connect, backed by Latticework Capital Management, acquired Precision Medicine World Conference, a life science events operation. Go deeper

• Tempus AI (Nasdaq: TEM) agreed to buy Personalis (Nasdaq: PSNL), a Fremont, Calif.-based cancer genomics company, for $1.7b. Go deeper

• Repligen (NASDAQ: RGEN) agreed to acquire BioLife Solutions (NASDAQ: BLFS), a maker of a product that preserves cell therapies, for an enterprise value of about $1.5b. Go deeper

• Scancell Holdings agreed to acquire Neuphoria Therapeutics in an all-stock reverse merger, securing a Nasdaq listing and $89m in debt and equity financing. Go deeper

• BlossomHill Therapeutics, a San Diego-based small molecule cancer therapies company, filed for an IPO. Cormorant Asset Management, OrbiMed, and Brahma Capital back the company. It plans to list on the Nasdaq as "BLSM." Go deeper

• Latigo Biotherapeutics, a Thousand Oaks, Calif.-based acute and chronic pain therapies biotech, filed for an IPO. Westlake BioPartners, Foresite Capital, 5AM Ventures, and Blue Owl Healthcare back the company. It plans to list on the Nasdaq at "LTGO." Go deeper

3. Other deals of the week

Illustration of a pipette dropping droplets of coins into a test tube.

⚠️ Axios Live: Safety concerns fuel push for compounded GLP-1 oversight — Axios

🤖 How AI is supercharging drug development — Axios

⚙️ FDA to end pilot aimed at preventing production issues — EndPoints News

🏛️ Merck CEO cautions Congress on imposing limits on Chinese dealmaking — EndPoints News

4. Pipeline picks

Illustration of a hand checking off boxes in the shape of health pluses.

"We've got wars, we've got supply chain risk, we've got pricing risk, we've got China. [All] the things that you would ordinarily see interfere with M&A deal activity have ultimately turned out empirically to be a bit of a shoulder shrug for an industry that just needs to make progress."

— Ropes & Gray partner Emily Oldshue discussing the biotech and pharma M&A market

5. Quote of the week

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July 25, 2026

1 big thing: Scribe Therapeutics' upsized IPO