Quick Take
PaxMedica (PXMD) has filed to raise $18 million in an IPO of its common stock, according to an S-1 registration statement.
The company is developing various forms of suramin for autism, Fragile X syndrome, African sleeping sickness and other neurodevelopmental indications.
PXMD appears to be thinly capitalized and is performing Phase 2b trials in South Africa for its lead candidate.
I’ll provide a final opinion when we learn more about the IPO from management.
Company & Technology
Woodcliff Lake, New Jersey-based PaxMedica was founded to advance programs based on anti-purinergic therapies