Company: Rubius Therapeutics, Inc.
Symbol: RUBY
Description: They are pioneering the development of a new class of medicines, Red Cell Therapeutics, or RCTs.
Trade Date: 7/19
Shares: 9.53 million
Price Range: $20.00-$22.00
Underwriter(s):J.P. Morgan, Morgan Stanley, Jefferies, Leerink Partners
Terms Added: 7-9-18
Business: They are pioneering the development of a new class of medicines, Red Cell Therapeutics, or RCTs. Based on their vision that human red blood cells are the foundation of the next significant innovation in medicine, they have designed a proprietary platform to genetically engineer and culture RCTs that are selective, potent and ready-to-use cellular therapies. They believe that their RCTs will provide life-changing or life-saving benefits for patients with severe diseases across multiple therapeutic areas.
They have generated hundreds of RCTs using their highly versatile and proprietary cellular therapy platform, the Rubius Erythrocyte Design, or RED, Platform. They are utilizing their universal engineering and manufacturing processes to advance a broad pipeline of RCT product candidates into clinical trials in rare diseases, cancer and autoimmune diseases. They plan to file an investigational new drug application, or IND, for their first product candidate in the first quarter of 2019 and INDs for additional RCT product candidates during 2019, 2020 and thereafter. Since their founding by Flagship Pioneering in 2013, they have raised approximately $240 million in capital and attracted a talented group of seasoned leaders to execute their strategy.
Although their RCT product candidates are at a preclinical stage of development and will require substantial resources to demonstrate technical feasibility and to establish clinical and regulatory validation, they believe that their RED Platform could provide beneficial treatments for their target indications, many of which have few, if any, effective treatments. Their initial focus will be advancing RCT product candidates with unique benefits for patients suffering from rare diseases, cancer and autoimmune diseases based on three modalities — cellular shielding, potent cell-cell interaction and tolerance induction.
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