VC-backed Cortexyme goes public

South San Francisco-based Cortexyme Inc, a developer of drugs focused on treating Alzheimer’s disease and other degenerative diseases, has debuted its IPO after pricing its over 4.4 million shares at $17 per share. The stock began trading May 9, 2019 on the NASDAQ under the ticker symbol “CRTX.” BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are the lead underwriters. Cortexyme’s pre-IPO backers included Sequoia Capital, Vulcan Capital, Verily Life Sciences, EPIQ Capital Group, RSL Investments, Huizenga Capital, Pfizer, Takeda Ventures, Lamond Family, Breakout Ventures and Dolby Family Ventures.

PRESS RELEASE

SOUTH SAN FRANCISCO, Calif.–(BUSINESS WIRE)–Cortexyme, Inc. (Nasdaq: CRTX), a clinical stage biopharmaceutical company pioneering a novel disease-modifying therapeutic approach to treat a key underlying cause of Alzheimer’s and other degenerative diseases, today announced that it has priced its initial public offering of 4,412,000 shares of its common stock at a price to the public of $17.00 per share, before underwriting discounts and commissions. In addition, Cortexyme has granted the underwriters a 30-day option to purchase up to an additional 661,800 shares at the initial public offering price, less the underwriting discounts and commissions. All of the shares of common stock are being offered by Cortexyme. The shares are expected to begin trading on the Nasdaq Global Select Market on May 9, 2019 under the ticker symbol “CRTX.” The offering is expected to close on May 13, 2019, subject to customary closing conditions.

BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are acting as joint book-running managers for the proposed offering. Canaccord Genuity LLC and JMP Securities LLC are acting as co-managers.

The offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained from any of the following sources:
BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by phone at 1-800-294-1322 or by email at dg.prospectus_requests@baml.com;
Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, Eleven Madison Avenue, 3rd Floor, New York, NY 10010, by telephone at 1-800-221-1037 or by email at usa.prospectus@credit-suisse.com.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on May 8, 2019. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of shares of Cortexyme’s common stock in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Cortexyme, Inc.
Cortexyme is a clinical stage pharmaceutical company pioneering a novel disease-modifying therapeutic approach to treat a key underlying cause of Alzheimer’s disease and other degenerative diseases. Cortexyme is targeting a specific, infectious pathogen found in the brain of Alzheimer’s patients and tied to neurodegeneration and neuroinflammation in animal models. The company’s lead investigational medicine, COR388, is the subject of the GAIN Trial, an ongoing Phase 2/3 clinical study in patients with mild to moderate Alzheimer’s.