Preclinical eye-disease biotech EIR Biopharma aims to raise up to US$17.1m via a NYSE listing.
San Francisco-based EIR plans to offer 3.75m shares priced between US$4 and US$5, according to a Securities and Exchange Commission filing.
At the midpoint, it expects US$14.9m in net proceeds. If underwriters take up their option for an extra 562,500 shares at the same price, the total could rise to US$17.1m.
EIR has earmarked US$2m to move EIR-1003, its lead candidate for conditions including glaucoma, diabetic retinopathy and uveal melanoma, through preclinical development.
A further US$5m is set aside for phase 1/1b clinical trials, early-stage studies mainly focused on safety, planned for 2027.
EIR-1003 targets the Ephrin receptor to boost regeneration of the optic nerve, which carries visual signals from the eye to the brain.
The drug was licensed from the University of Miami, where the company expects the phase 1 study to run at the Bascom Eye Institute.
The company’s other preclinical candidate is EIR-0205, licensed from Cornell University, which it plans to develop for dry age-related macular degeneration, a leading cause of vision loss in older adults.
EIR has two part-time executive officers: chief executive Anthony Cataldo and chief financial officer and chief science officer Martin Schroeder.
Cataldo previously led immuno-oncology biotech GT Biopharma, where Schroeder previously served as chief science officer.
EIR describes itself as “semi-virtual”, with preclinical laboratory work for its two candidates being carried out at the University of Miami and Cornell University respectively.
The company has no plans to recruit full-time staff until the IPO is completed.
The move comes as biotech IPO activity appears to be picking up in 2026 after a quieter year, with several companies posting larger offerings than anything seen in 2025.
