MAIA Biotechnology, Inc. (MAIA) Plans to Raise $10 Million in July 28th IPO

MAIA Biotechnology, Inc. (MAIA) is planning to raise $10 million in an initial public offering on Thursday, July 28th, IPO Scoop reports. The company will issue 1,700,000 shares at $5.00-$7.00 per share.

ThinkEquity acted as the underwriter for the IPO.

MAIA Biotechnology, Inc. provided the following description of their company for its IPO: “We are a clinical-stage biopharmaceutical company developing targeted immunotherapies for cancer. THIO, our lead asset, is an investigational dual mechanism of action drug candidate incorporating telomere targeting and immunogenicity. THIO will enter Phase 2 human trials (THIO-101) in Australia and Europe in the first half of 2022. Patients with advanced Non-Small Cell Lung Cancer (NSCLC) will be treated first with THIO, followed a few days later by the immune checkpoint inhibitor Libtayo┬« (cemiplimab) manufactured and commercialized by Regeneron. Cemiplimab is a fully human monoclonal antibody targeting the immune checkpoint receptor PD-1 on T-cells. Cemiplimab has been approved in the United States and the rest of the world for multiple cancer indications, including NSCLC. In February 2021, we signed a clinical supply agreement with Regeneron to receive cemiplimab at no cost, which represents a significant cost savings for the study. In return, we have granted Regeneron exclusive development rights in combination with PD-1 inhibitors for NSCLC for the study period. Based on the clinical data generated by our THIO-101 trial, in late 2024 we plan to seek an accelerated approval of THIO in the United States for the treatment of patients with advanced NSCLC, but even if granted, accelerated approval status does not guarantee an accelerated review or marketing approval by the FDA. In addition, in the First Quarter of 2023, we plan to initiate a pivotal Phase 2 clinical trial in patients with advanced colorectal cancer, hepatocellular carcinoma, and small cell lung cancer, of THIO administered in sequence with Anti-PD-1 or Anti-PD-L1 by end of 2023. **Note: MAIA Biotechnology has not generated any revenues from product sales. Its net loss is for the year ended Dec. 31, 2021. (Note: MAIA Biotechnology, Inc. set terms for its IPO in an S-1/A filing dated July 13, 2022: 1.67 million shares at $5.00 to $7.00 to raise $10.02 million. MAIA Biotechnology filed its S-1 on April 11, 2022; confidential IPO paperwork was filed on Oct. 15, 2021.) “.

MAIA Biotechnology, Inc. was founded in 2018 and has 12 employees. The company is located at 444 West Lake Street, Suite 1700 Chicago, IL 60606 and can be reached via phone at (312) 416-8592.

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