Attovia Therapeutics Raises $289 Million in Nasdaq IPO

Attovia Therapeutics Inc. raised $289 million through a U.S. initial public offering, selling 17 million shares at $17 each. The pricing hit the top of the marketed range, giving the San Carlos, California-based biotechnology company a market value of $731.5 million. Shares are expected to trade on the Nasdaq Global Market under the symbol ATTO.

Attovia develops treatments for immune system diseases utilizing technology and patents licensed from Alamar Biosciences Inc., which established Attovia as a separate entity in 2023. The company's current pipeline includes a drug targeting interleukin-31 that has completed Phase 1 dosing and another targeting interleukin-13, with trials for the latter expected to begin in the first half of 2027.

Morgan Stanley, Leerink Partners, Citigroup Inc., and Royal Bank of Canada led the offering.