Zenas BioPharma LLC.

iStock, beast01 Two biotechs set out for the public markets this week, with Upstream Bio raising $255 million for its inflammatory disease work, while CAMP4 Therapeutics picked up $75 million to develop RNA-targeting drugs. Two more companies jumped to the public markets to end the week, with inflammatory disease biotech Upstream Bio upsizing its offering for proceeds totaling $255 million while RNA outfit CAMP4 Therapeutics picked up $75 million. In the larger IPO, Upstream offered 15 million shares for $17 apiece, which began trading Friday morning under the ticker UPB, according to a Thursday press release. Upstream’s lead program is verekitug, also known as UPB-101, an antagonist targeting thymic stromal lymphopoietin (TSLP), which is known to be involved in the body’s inflammatory response. The therapy is currently in two Phase II trials for severe asthma and chronic rhinosinusitis with nasal polyps. Upstream also plans to develop the therapy in chronic obstructive pulmonary disease. Earlier Phase I studies of verekitug showed a reduction in inflammatory biomarkers, rapid treatment effects and tolerability. Upstream is helmed by Rand Sutherland, who joined as CEO in April after serving in the same role at Seeker Biologics. Prior to that, he was president of Translate Bio, which was acquired by Sanofi. The second biotech to go out was CAMP4, which offered 6.8 million shares at $11 each for total proceeds of $75 million. Trading was expected to begin Friday under the ticker CAMP, according to a Friday press release . The CAMP4 team has had a busy month. The company signed an agreement with BioMarin on Oct. 1 to develop therapies that increase protein levels by targeting regulatory RNA sequences. Financial details were not disclosed, but CAMP4 was provided with an upfront fee, plus milestones and royalties down the line. CAMP4’s lead program is CMP-CPS-001, which is in Phase I development for urea cycle disorders. CMP-CPS-001 secured orphan drug status from the FDA in September and had previously held a rare pediatric disease tag as well. Another program, CMP-SYNGAP, is in preclinical development for SYNGAP1-related disorders, which are a group of central nervous system diseases. CAMP4 also has multiple programs in metabolic CNS and cardiovascular diseases in early development and discovery. IPO activity has picked up this fall, with several biotechs making the jump to Wall Street. Upstream and CAMP4 follow Bicara Therapeutics, Zenas BioPharma and MBX Biosciences, which together raised more than $700 million in September.

WALTHAM, Mass., Sept. 19, 2024 (GLOBE NEWSWIRE) -- Zenas BioPharma, Inc. (“Zenas”), (Nasdaq: ZBIO) a clinical-stage global biopharmaceutical company committed to being a leader in the development and commercialization of transformative immunology-based therapies, today announced that the underwriters of its previously announced upsized initial public offering of 13,235,294 shares of its common stock, which closed on September 16, 2024, exercised in full their option to purchase an additional 1,985,294 shares at the initial public offering price of $17.00 per share. After giving effect to the full exercise of the underwriters’ option to purchase additional shares, which closed on September 19, 2024, Zenas sold 15,220,588 shares in its initial public offering, resulting in gross proceeds of approximately $258.7 million. All of the shares were sold by Zenas. Zenas’ shares began trading on the Nasdaq Global Select Market on September 13, 2024 under the ticker symbol “ZBIO”. Morgan Stanley, Jefferies, Citigroup, and Guggenheim Securities acted as joint book-running managers for the offering. Registration statements relating to the shares sold in the offering have been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on September 12, 2024. The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; and from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. About Zenas BioPharma, Inc. Zenas is a clinical-stage global biopharmaceutical company committed to becoming a leader in the development and commercialization of transformative immunology-based therapies for patients in need. Our core business strategy combines our experienced leadership team with a disciplined product candidate acquisition approach to identify, acquire and develop product candidates globally that we believe can provide superior clinical benefits to patients living with autoimmune diseases. Zenas’ lead product candidate, obexelimab, is a bifunctional monoclonal antibody designed to bind both CD19 and FcγRIIb, which are broadly present across B cell lineage, to inhibit the activity of cells that are implicated in many autoimmune diseases without depleting them. Investor Contact: Matthew Osborne Investor Relations and Corporate Communications Matt.osborne@zenasbio.com Media Contact : Argot Partners Zenas@argotpartners.com

WALTHAM, Mass., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Zenas BioPharma, Inc. (“Zenas”), (Nasdaq: ZBIO) a clinical-stage global biopharmaceutical company committed to being a leader in the development and commercialization of transformative immunology-based therapies, today announced the pricing of its upsized initial public offering of 13,235,294 shares of its common stock at an initial public offering price of $17.00 per share. All of the shares are being offered by Zenas. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $225.0 million. Zenas’ common stock is expected to begin trading on the Nasdaq Global Select Market on September 13, 2024 under the ticker symbol “ZBIO”. The offering is expected to close on September 16, 2024, subject to the satisfaction of customary closing conditions. In addition, Zenas has granted the underwriters a 30-day option to purchase up to an additional 1,985,294 shares of common stock at the initial public offering price, less underwriting discounts and commissions. Morgan Stanley, Jefferies, Citigroup, and Guggenheim Securities are acting as joint book-running managers for the offering. Registration statements relating to the shares being sold in the offering have been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on September 12, 2024. The offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; and from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. About Zenas BioPharma, Inc. Zenas is a clinical-stage global biopharmaceutical company committed to becoming a leader in the development and commercialization of transformative immunology-based therapies for patients in need. Our core business strategy combines our experienced leadership team with a disciplined product candidate acquisition approach to identify, acquire and develop product candidates globally that we believe can provide superior clinical benefits to patients living with autoimmune diseases. Zenas’ lead product candidate, obexelimab, is a bifunctional monoclonal antibody designed to bind both CD19 and FcγRIIb, which are broadly present across B cell lineage, to inhibit the activity of cells that are implicated in many autoimmune diseases without depleting them. Forward-Looking Statements This press release contains forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, including statements about the completion, timing and size of the initial public offering and the commencement of trading on the Nasdaq Global Select Market. Each forward-looking statement is subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the initial public offering discussed above will be completed on the terms described or at all. Completion of the proposed initial public offering and the terms thereof are subject to numerous factors, many of which are beyond the control of Zenas, including, without limitation, market conditions, failure of customary closing conditions and the factors discussed in the “Risk Factors” section of the prospectus that forms a part of the registration statement, in the form last filed with the SEC. These forward-looking statements speak only as of the date of this press release and Zenas undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Investor Contact:Matthew OsborneInvestor Relations and Corporate CommunicationsMatt.osborne@zenasbio.com Media Contact:Argot PartnersZenas@argotpartners.com