Genelux Corp. Plans $16 Million IPO for Week of January 23rd (GNLX)

Genelux Corp. (GNLX) is planning to raise $16 million in an IPO on the week of January 23rd, IPO Scoop reports. The company plans to issue 2,500,000 shares at $6.00-$7.00 per share.

The company has a market-cap of $153.2 million.

The Benchmark Company and Brookline Capital Markets acted as the underwriters for the IPO.

Genelux Corp. provided the following description of their company for its IPO: “Genelux is a clinical-stage biopharmaceutical company focused on developing a pipeline of next-generation oncolytic viral immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types. Our most advanced product candidate, Olvi-Vec (olvimulogene nanivacirepvec), is a proprietary modified strain of the vaccinia virus (VACV), a stable DNA virus with a large engineering capacity. We have met the preestablished endpoint for our Phase 2 clinical trial of Olvi-Vec in platinum resistant/refractory ovarian cancer (PRROC). Our Phase 3 registration trial of Olvi-Vec in PRROC has not been placed on clinical hold and we expect to be in the process of obtaining Institutional Review Board (IRB) approvals and negotiating clinical trial agreements to begin enrollment (regulatory study start-up) in the second quarter of 2022. Employing our proprietary selection technology and discovery and development platform (CHOICE), we have developed an extensive library of isolated and engineered oncolytic VACV immunotherapeutic product candidates.  From this library, we selected Olvi-Vec, which we believe has the potential to exhibit anti-tumor properties, including potent oncolytic properties (tumor cell lysis) and to activate both the innate and adaptive arms of the immune system, to produce favorable changes within the tumor microenvironment. The personalized and multi-modal immune activation generated by Olvi-Vec is designed with the goal to yield clinically meaningful anti-tumor responses to virus treatment alone and in combination with other existing treatment modalities. We believe Olvi-Vec currently represents the most advanced clinical development program throughout the oncolytic treatment landscape involving the non-local administration (i.e., non-intratumorally) of viral immunotherapies. (Note: Genelux Corp. disclosed the terms for its IPO in an S-1/A filing dated Sept. 16, 2022: 2.5 million shares at $6.00 to $7.00 to raise $16.25 million. Genelux Corp. filed its S-1 on June 24, 2022. Flip back to May 2021: Genelux filed confidential IPO paperwork on May 7, 2021.)   “.

Genelux Corp. was founded in 2001 and has 14 employees. The company is located at 2625 Townsgate Road, Suite 230 Westlake Village, California 91361 and can be reached via phone at (805) 267-9889 or on the web at http://www.genelux.com/.

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