Sagimet Biosciences Inc.

General Information
Business:

(Note: Sagimet Biosciences Inc. withdrew its IPO plans in an SEC filing dated March 21, 2022. The company filed its S-1 on April 16, 2021, and an S-1/A on May 10, 2021, but no terms were filed.) 

We are a clinical-stage biopharmaceutical company focused on developing a portfolio of internally discovered, selective fatty acid synthase (FASN) inhibitors for the treatment of several diseases that result from the overproduction of the fatty acid, palmitate. Based on our clinical and preclinical data, we believe that our wholly owned pipeline of oral FASN inhibitors has the potential to offer treatments for indications in several therapeutic areas of high unmet medical need including liver diseases and cancers. TVB-2640, which we are developing as an oral, once-daily pill, is our lead drug candidate that we selected from more than 1,200 compounds in our library of FASN inhibitors and has been studied in over 260 subjects, including healthy volunteers and patients with non-alcoholic steatohepatitis (NASH) or cancer. In our FASCINATE-1 Phase 2a clinical trial, TVB-2640 demonstrated statistically significant improvements across steatosis, inflammation/lipotoxicity, fibrosis and metabolic biomarkers important in NASH, and was well-tolerated. We believe that these attributes provide TVB-2640 the potential to treat a broad range of patients in this multifactorial disease. In the second quarter of 2021, we plan to initiate enrollment of our FASCINATE-2 Phase 2b clinical trial in NASH patients with moderate to advanced fibrosis to evaluate the impact of TVB-2640 on disease improvement by assessing liver biopsies after 52 weeks of treatment. We also plan to conduct an interim analysis after a portion of the patients complete 26 weeks of treatment. Within oncology, in the second half of 2021, we plan to initiate a randomized, controlled Phase 2 clinical trial for glioblastoma multiforme (GBM) and a Phase 1b/2 basket clinical trial in several solid tumors where FASN inhibition may have promising utility. In addition, we plan to advance our second FASN inhibitor, TVB-3567, into a first-in-human clinical trial in the second half of 2021.
In healthy adults, FASN is a key enzyme involved in the production of saturated fatty acids in the liver and other organs and is the only enzyme in the human body capable of converting metabolized sugars into palmitate. Palmitate is a saturated fatty acid that serves as a building block for longer chain, polyunsaturated fatty acids and can directly interact with other proteins to sustain normal cell signaling and metabolic function. The overproduction of palmitate is a critical driver of cellular metabolic dysfunction that can drive development or progression of several different diseases. In patients with NASH, increased FASN-mediated palmitate synthesis in the liver is the source of three key drivers of the disease: excess accumulation of liver fat, inflammation and fibrosis. If left untreated, these can lead to cirrhosis of the liver, liver cancer and/or liver transplantation.
**Note: “Our net loss was $11.4 million for the year ended Dec. 31, 2020, and (our net loss was) $5.5 million for the three months ended March 31, 2021, respectively. As of March 31, 2021, we had an accumulated deficit of $172.5 million.”
Industry: Pharmaceuticals
Employees: 6
Founded: 2006
Contact Information
Address 155 Bovet Road, Suite 303 San Mateo, California 94402
Phone Number (650) 561-8600
Web Address http://www.sagimet.com/
View Prospectus: Sagimet Biosciences Inc.
Financial Information
Market Cap
Revenues $0 mil (last 12 months)
Net Income $-11.4 mil (last 12 months)
IPO Profile
Symbol SGMT
Exchange NASDAQ
Shares (millions): 0.0
Price range $0.00 - $0.00
Est. $ Volume $75.0 mil
Manager / Joint Managers BofA Securities/ Cowen and Company/ Piper Sandler/ Oppenheimer & Co.
CO-Managers
Expected To Trade:
Status: Withdrawn
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change