J&J-Partnered Contineum Corrals $110M From IPO for Clinical Trials in Fibrosis & MS

Contineum Therapeutics, a biotech company, raised $110 million in an IPO to support drug development for neurological disorders and fibrosis. Their lead program, PIPE-791, targets idiopathic pulmonary fibrosis (IPF) by blocking the LPA1 receptor. The company also has a drug candidate, PIPE-307, for multiple sclerosis (MS) licensed by Johnson & Johnson. Contineum plans to spend $66 million on PIPE-791 and $16.2 million on PIPE-307. The company expects its capital to last through 2028. These drugs could offer new and improved treatments for IPF, MS, and other diseases. Other companies are also developing drugs targeting similar pathways.

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