Immunological disease biopharmaceutical company Attovia (ATTO.US) applies for listing on the US stock market, planning to raise $100 million.

Clinical stage biopharmaceutical company Attovia Therapeutics has submitted its initial public offering (IPO) application, planning to raise up to $100 million. The company intends to list on the Nasdaq with the stock symbol "ATTO". Attovia is utilizing its ATTOBODY platform to develop biologics for the treatment of immune-mediated diseases. The platform uses technology based on dual-site nanobodies, licensed from Alamar Biosciences (ALMR.US). Alamar Biosciences is a medical device manufacturer focused on using protein biomarkers to detect diseases and completed its IPO in April this year, raising $220 million. Since the IPO, Alamar's stock price has risen nearly 60%. Alamar established Attovia as an independent company in 2023 to focus on proteomics and disease detection, and remains an important shareholder of Attovia. Attovia's core candidate drug ATTO-1310 targets Interleukin-31 (IL-31) and has completed Phase I clinical trials in healthy volunteers as well as patients with chronic pruritus and atopic dermatitis. The second candidate drug ATTO-2306 is a dual-specificity antibody targeting Interleukin-13 (IL-13) and Interleukin-31 (IL-31) for the treatment of atopic dermatitis and related skin diseases. Currently, the drug is undergoing research to support an Investigational New Drug (IND) application and plans to start Phase I clinical trials in the first half of 2027. The third candidate drug ATTO-1091 is a tri-specific antibody targeting TL1A, IL-23, and integrin 47 for the treatment of inflammatory bowel disease. Currently, the drug is in the preparatory stage for filing an IND. However, the company has not commercialized any products yet and has not generated revenue from product sales. Data shows that the company's net loss for the three months ended March 31 was $18.7 million, compared to a net loss of $15.2 million for the same period last year. The company aims to use the IPO proceeds to fund the development of multiple drugs for immune-mediated diseases. Since its inception, Attovia has raised a total of $255.8 million, with investors including professional investment institutions in the life sciences sector and major shareholders Deep Track Capital, Frazier Life Sciences, Goldman Sachs Group, Inc., and venBio. It is worth mentioning that biotech company IPOs have been one of the strongest performing sectors in the new stock market this year. For example, Veradermics (MANE.US), focused on treating androgenetic alopecia, has seen its stock price rise over 500% since its listing in early February; and Hemab Therapeutics (COAG.US), a blood disease treatment company, has seen its stock price rise 141% since its listing in early May.