Boston, USA-based biotech Sionna Therapeutics (Nasdaq: SION) has recently raised $191 million through its initial public offering (IPO), marking a step forward in its efforts to develop treatments for cystic fibrosis (CF).
In 2022 Sionna emerged from stealth with a $111 million Series B financing. The company is a spin out of research from Sanofi Genzyme that goes back more than a decade. Sionna’s shares were trading up 6.1% to $16.46 today.
With Vertex Pharmaceuticals (Nasdaq: VRTX) maintaining a dominant position in the CF treatment landscape through its CFTR modulator franchise, Sionna is looking to introduce its NBD1 stabilizers, SION-719 and SION-451, as an alternative approach. These candidates, which aim to address stability issues in the CFTR protein, could differentiate them from Vertex’s existing therapies, according to pharma analytics company GlobalData.
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