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Genentech, Roche vets aim new company’s $86.25 million IPO at cancer
San Francisco Business Times

A South San Francisco startup led by veterans of biotech stalwart Genentech Inc. and its parent company Roche wants to raise $86.25 million in an initial public offering.

RAPT Therapeutics Inc. — known until May as FLX Bio Inc. — expects to use the IPO booty to fund development of cancer-fighting FLX-475 through results of an ongoing Phase I/II clinical trial, fund an early-stage safety trial of RPT-193 in the itchy skin condition known as atopic dermatitis and develop other drug candidates, including a potential cancer drug that will seek next year to begin clinical trials.