Benzinga | Jul 19, 2021 01:57PM EDT

Nervous System Firm Eliem Therapeutics Files For $80M IPO

* Eliem Therapeutics (NASDAQ:ELYM), a Phase 2a biotech developing therapies for neuronal excitability disorders, filed an IPO prospectus with the SEC to raise up to $80 million.

* Its two lead candidates are ETX-810 and ETX-155.

* ETX-810 is currently in two Phase IIa studies looking at diabetic peripheral neuropathic pain and lumbosacral radicular pain. Data readouts are expected for the first half of 2022.

* ETX-155 is a GABA-positive allosteric modulator, which the company is calling ETX-155.

* Researchers plan to take this program into two Phase IIa studies for major depressive disorder and hormone-related depressive disorders, as well as a Phase Ib trial for epilepsy. Data here are expected in the second half of 2022 and the first half of 2023, respectively.

* IPO Filing prospectus here.