Scribe Therapeutics is redefining the approach to chronic disease management with its focus on genetic medicines that promise long-lasting effects. As the company prepares to release its initial human data next year, it has successfully transitioned to public markets, raising $128.7 million.
“While current genetic medicines are largely confined to rare diseases, we are designing our technologies for use in common diseases affecting millions,” stated Scribe in its initial public offering filing. “By targeting widespread diseases with significant unmet needs and high clinical burdens, we aim to pave the way for a new era of scalable, transformative, and preventive genetic medicines.”
The robust interest from investors allowed Scribe to increase its planned offering by over one million shares, bringing the total to 8.58 million shares. On late Thursday, the company priced these shares at $15 each, at the high end of its projected price range. Trading for Scribe’s shares is set to begin on Nasdaq under the ticker symbol “SCTX” on Friday.
Based in Alameda, California, Scribe has chosen cardiometabolic disorders as its initial focus. The lead therapeutic candidate, STX-1150, aims to lower levels of “bad” cholesterol, a significant risk factor for atherosclerotic cardiovascular disease (ASCVD). This therapy is designed to inhibit LDL cholesterol levels by repressing PCSK9, a protein that, when abundant, limits the liver’s ability to clear cholesterol from the bloodstream. Injectable PCSK9 inhibitors are already on the market from companies such as Amgen, Regeneron Pharmaceuticals, and Novartis. Recently, Merck received FDA approval for Lipfendra, an oral PCSK9 inhibitor. While dosing frequency varies among these therapies, they all require chronic administration.
The first generation of genetic medicines has delivered permanent changes. STX-1150 is based on Scribe’s proprietary Epigenetic Long-Term Repressor (ELXR) technology, which installs epigenetic marks at targeted locations on a gene without altering the DNA itself. These marks are not permanent and can be reversed if needed. By marking the PCSK9 gene, STX-1150 seeks to repress the expression of this protein.
In trials conducted on monkeys, Scribe reported that a single dose of a prototype STX-1150 resulted in a therapeutically significant reduction in LDL cholesterol levels, lasting for two years. This prototype was also well tolerated. Scribe noted that this durability might address another issue associated with cardiovascular medications: adherence rates for existing cardiovascular drugs range from 40 to 50%. The company believes that the long-lasting effects of its drug could support better patient compliance.
“We believe that correcting the chronic care model in ASCVD will not come from adding another pill to the regimen or making minor adjustments to existing modalities, but rather from a genetic medicine solution capable of providing the genetic blueprint of nature for improved cardiovascular health for all patients,” Scribe stated in its IPO filing.
A phase 1 study of STX-1150 is currently underway in Australia, involving 64 adults with high LDL cholesterol and an increased risk of ASCVD. Preliminary data is expected to be available in the first half of 2027. Scribe’s pipeline also includes two preclinical programs targeting ASCVD, both of which are based on the company’s X-Editor (XE) platform, a CRISPR-based editing technology designed to develop one-time therapies. STX-1200 targets the LPA gene to reduce high levels of Lp(a) cholesterol-carrying protein, while STX-1400 targets APOC3, a protein regulating triglyceride metabolism. Both programs have received over $25 million in grants from the California Institute for Regenerative Medicine.
Scribe’s scientific foundation is built on research conducted at the University of California, Berkeley, in the labs of Jennifer Doudna, a Nobel Prize laureate for her CRISPR discoveries, and David Savage. Both are co-founders of Scribe. The company is led by co-founder and CEO Benjamin Oakes, who worked in the Doudna and Savage labs.
Since its inception, Scribe has raised $150 million prior to its IPO, according to the filing. The most recent funding round included a $100 million Series B round in 2021. Revenue is drawn from partnerships within the pharmaceutical industry, with the most significant collaboration involving Prevail, a subsidiary of Eli Lilly, focused on developing in vivo CRISPR-based therapies for neurological and neuromuscular diseases. Alongside cash payments, Prevail has also made an equity investment in Scribe. Andreessen Horowitz remains the largest shareholder with a nearly 17% stake following the IPO, while Eli Lilly holds a 6.5% stake.
As of the end of the first quarter of this year, Scribe reported cash reserves of $49.7 million. Combined with proceeds from the IPO, this capital will support ongoing pipeline development. The company plans to allocate between $30 and $35 million to advance the phase 1 program for STX-1150. The preclinical programs, STX-1400 and STX-1200, will receive between $15 and $20 million each for human testing and preliminary phase 1 data analysis. Scribe anticipates that its available capital will last until the first half of 2029.
Image: Yuichiro Chino, Getty Images
