Attovia Therapeutics, a biopharmaceutical company backed by Goldman Sachs, has filed for an initial public offering (IPO) in the US, with plans to raise up to $100 million. The company intends to list on the Nasdaq under the ticker symbol "ATTO". Attovia, founded in 2023, has already secured approximately $256 million through three private funding rounds, with investors including Deep Track Capital, Frazier Life Sciences, Goldman Sachs Group, Inc., and venBio.
The San Carlos, California-based company specializes in developing biologics for immune-mediated diseases using its ATTOBODY platform, which leverages technology based on dual-site nanobodies licensed from Alamar Biosciences. Alamar Biosciences, which went public earlier this year and remains a significant shareholder in Attovia, established Attovia as an independent entity in 2023. Attovia's lead candidate, ATTO-1310, is an IL-31-targeted fusion protein designed to treat conditions associated with itching, such as chronic pruritus of unknown origin and atopic dermatitis. This drug has completed Phase I clinical trials and could compete with existing treatments like Galderma’s Nemluvio and Sanofi/Regeneron’s Dupixent.
The company's pipeline also includes ATTO-2306, a dual-specificity antibody targeting IL-13 and IL-31 for atopic dermatitis, expected to enter Phase I trials in the first half of 2027, and ATTO-1091, a tri-specific antibody for inflammatory bowel disease, currently in preparation for an Investigational New Drug (IND) application. Attovia's financial disclosures indicate a net loss of $18.7 million for the three months ended March 31, compared to a net loss of $15.2 million for the same period last year. The proceeds from the IPO are intended to fund the development of its various drug candidates.
Attovia's IPO follows a strong trend in the biotech sector for new listings this year, with other biotech companies like Veradermics and Hemab Therapeutics seeing significant stock price increases post-IPO. The company aims for its pipeline, including ATTO-1310, to offer improved performance or bioavailability compared to existing treatments. Although the Bloomberg article specifically mentions a target of $212.5 million, other reported figures indicate a target raise of $100 million in the IPO filing itself.
