aTyr Pharma S-1 Analysis (NASDAQ:LIFE)

aTyr Pharma Basic Info

Exchange: NASDAQ

Proposed Symbol: LIFE

Employees: 49

CEO: John D. Mendlein

Offer Amount: $75 mm

No. of Shares: 5.36 mm

Price Range: $13-15

Mkt Cap at Midpoint of Proposed range: $315.7 mm

Expected IPO Date: 05/07/15

Description from S-1: “We engage in the discovery and clinical development of innovative medicines for patients suffering from severe, rare diseases using our knowledge of Physiocrine biology, a newly discovered set of physiological modulators. We have discovered approximately 300 Physiocrines (physio for life and crine for specific activity), a class of naturally occurring proteins that we believe promote homeostasis, a fundamental process of restoring stressed or diseased tissue to a healthier state. Physiocrines are extracellular signaling regions of tRNA synthetases, an ancient family of enzymes that catalyze a key step in protein synthesis. We believe that Physiocrines have evolved over time to modulate important cellular pathways by interacting with various types of cells, including immune and stem cells. Approximately 100 of these proteins interact with the immune system, which we believe presents a significant therapeutic opportunity to restore affected tissues to a healthier state through natural immuno-modulation mechanisms. We successfully completed a Phase 1 clinical trial of Resolaris, our first development candidate from our discovery engine, and are currently conducting a multi-national exploratory Phase 1b/2 clinical trial of Resolaris in adult patients with facioscapulohumeral muscular dystrophy, or FSHD, a severe, rare genetic myopathy with an immune component, for which there are currently no approved treatments. By leveraging our discovery engine and our knowledge of rare diseases, we aim to build a proprietary pipeline of novel product candidates with the potential to treat severe, rare diseases characterized by immune dysregulation. We plan to independently commercialize our Physiocrine-based therapeutics.”

From the S-1


  • Lead Underwriter: JP Morgan, Citigroup
  • Co-Managers: Williams Blair, BMO Capital Markets

Allocation of Proceeds:

  • ~$11.0 million to fund ongoing Phase 1b/2 clinical trial of Resolaris in adult patients with FSHD (Facioscapulohumeral muscular dystrophy)
  • $16.1 million to fund portions of additional Phase 1b/2 clinical trials of Resolaris in early onset FSHD, LGMD (Limb-girdle muscular dystrophy) and an additional indication, such as ILD (Interstitial lung disease).
  • $7.9 million to fund the initiation of potential Phase 3 or pivotal clinical trials of Resolaris in adult patients with FSHD.
  • $15.8 million to advance other research, discovery and development activities.
  • remainder of the net proceeds will be used to in-license, acquire, or invest in additional businesses, technologies, products, or assets.

Competitors: Akashi Therapeutics, Inc., BioMarin Pharmaceutical Inc., bluebird bio, Catabasis Pharmaceuticals, Inc., FibroGen Inc., F. Hoffmann-La Roche AG, Milo Biotechnology, LLC., Nobelpharma Co.Ltd., Novartis AG, Pfizer, Inc., PTC Therapeutics, Inc., Sarepta Therapeutics, Inc. and Ultragenyx Pharmaceuticals

Other Notes

  • Based in San Diego, CA
  • Founded in 2005
  • aTyr is focused on finding treatments for rare diseases
  • aTyr (LIFE) is similar to recent IPOs Ultragenyx (RARE), bluebird (BLUE), Spark Therapeutics (ONCE), all of which have been incredibly hot in the public marketplace.
    • the Biotech sector as a whole has been a strong performer, with Aduro Biotech (ADRO) rocketing up 150% on its first day
  • Funding:
    • April 2007 — Series A — $10.5 mm
    • September 2009 — Series B — $12 mm
    • October 2010 — Series C — $23 mm
    • July 2013 — Series D — $59 mm
    • March 2015 — Series E — $76 mm
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