BioAge Labs, Inc. (BIOA), a clinical-stage biopharmaceutical company, announced a proposed underwritten public offering of up to $75 million of shares of its common stock. In addition, BioAge announced the expansion of its lead drug, BGE-102, into ophthalmology beyond the cardiovascular space.
As part of the public offering, BioAge also intends to grant the underwriters a 30-day option to purchase up to an additional $11.25 million of its common stock.
Goldman Sachs & Co. LLC, Piper Sandler and Citigroup are acting as joint book-running managers for the proposed offering.
BioAge intends to use the net proceeds from the proposed offering to fund research, clinical and process development, and manufacturing of its product candidates, including BGE-102, and to develop its NLRP3 and APJ programs, working capital, capital expenditures, reduction of indebtedness, and for other general corporate purposes.
The Company's lead product candidate, BGE-102, is an orally available, brain-penetrant small-molecule NLRP3 inhibitor initially being developed for cardiovascular risk factors.
Though cardiovascular remains the primary development focus, the company has now decided to explore BGE-102 for potential applications in ophthalmology as well.
Accordingly, a Phase Ib/IIa Proof-of-Concept trial in patients with diabetic macular oedema (DME) is expected to be initiated in mid-2026.
In a preclinical model of DME, oral BGE-102 demonstrated dose-dependent preservation of retinal vascular integrity, achieving near-complete protection from vascular leakage and up to 90% preservation of microvascular integrity.
The planned randomized, controlled trial will evaluate patients across three arms to evaluate the efficacy of BGE-102 as a monotherapy and in combination with a VEGF inhibitor.
The primary endpoint will be percent change in intraocular IL-6, with additional exploratory endpoints including best-corrected visual acuity, central subfield thickness and intraocular and plasma biomarkers. The results are expected in mid 2027.
"The efficacy observed with injectable IL-6 inhibitors in retinal disease validates targeting the inflammatory cascade in the eye," said Kristen Fortney, PhD, CEO and co-founder of BioAge.
Earlier this month, BioAge provided additional positive interim data from the ongoing Phase 1 clinical trial evaluating BGE-102 in patients with cardiovascular risk factors.
A Phase 1 SAD/MAD trial of BGE-102 in obese participants with elevated high-sensitivity C-reactive protein (hsCRP) is underway, with topline data including additional MAD cohorts anticipated in the first half of 2026.
BioAge is also developing long-acting injectable and oral small-molecule APJ agonists for the treatment of obesity.
Over the year, BIOA traded in a range of $2.88 and $24.00.
BIOA closed Tuesday's trade at $21.32, up 5.75%.
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