STAT Plus: Relay Therapeutics, focused on solid tumors, seeks to raise $250M in IPO
Relay Therapeutics, a Cambridge, Mass.-biotech focusing on cancer treatments, plans to raise $250 million when it goes public, amid strong recent stock market debuts by other biopharma startups.
The startup is developing treatments for solid tumors. In 2018, Relay’s chief executive, Dr. Sanjiv Patel, said the firm was harnessing breakthroughs in computer technology to make movies of proteins in motion. Malfunctioning proteins are implicated in many diseases, and the images would help scientists better design medicines that could bind to targets.
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