alpha Biopharmaceuticals has raised $ 107 m from its IPO . The company has launched seven experimental drugs since its founding in 2001 and is developing treatments for diabetes , obesity and the liver disease non - alcoholic steatohepatitis ( NASH ) in partnership with Merck . The funding means Merck now controls almost 20 % of the firm . Merck has already invested $ 336 m in NGM ’s work , including for the rights to NASH and diabetes drugs , and will invest a further $ 20 m by 2022 . NGM claims most of the investment proceeds would back development of its proprietary drug NGM282 , which cuts the fat and enzymes typical to liver damage .
NGM Biopharmaceuticals has raised $107m from its IPO. The company has launched seven experimental drugs since its founding in 2008 and is developing treatments for diabetes, obesity and the liver disease non-alcoholic steatohepatitis (NASH) in partnership with Merck. The IPO means Merck now owns almost 20% of the firm. Merck has already invested $336m in NGM’s work, including for the rights to NASH and diabetes drugs, and will invest a further $20m by 2022. NGM said most of the IPO proceeds would back development of its NASH drug NGM282, which cuts the fat and enzymes typical to liver damage.