Immunological disease biopharmaceutical company Attovia (ATTO.US) applies to go public in the US and plans to raise 100 million US dollars

The Zhitong Finance App learned that the clinical-stage biopharmaceutical company Attovia Therapeutics has submitted an initial public offering (IPO) application and plans to raise up to 100 million US dollars. The company plans to list on Nasdaq under the ticker symbol “ATTO.”

According to reports, AttoVIA uses its AttoBody platform to develop biologics for the treatment of immune-mediated diseases. The platform uses technology based on two-site nanoantibodies and is licensed by Alamar Biosciences (ALMR.US). Alamar Biosciences is a medical device manufacturer focusing on the use of protein biomarkers to detect diseases, and completed its listing in April of this year. Since raising $220 million through the IPO, Alamar shares have risen nearly 60%. Alamar established Attovia as an independent company in 2023 to focus on proteomics and disease testing businesses, and is still an important shareholder of Attovia.

AttoVIA's core candidate, ATTO-1310, targets interleukin-31 (IL-31) and has now completed phase I clinical trial administration for healthy volunteers and patients with chronic pruritus and atopic dermatitis.

The second drug candidate, ATTO-2306, is a bispecific antibody drug targeting interleukin-13 (IL-13) and interleukin-31 (IL-31) to treat atopic dermatitis and related skin diseases. Currently, the drug is undergoing related research to support the New Drug Clinical Trial Application (IND), and phase I clinical trials are scheduled to begin in the first half of 2027.

The third candidate, ATTO-1091, is a tri-specific antibody targeting TL1A, IL-23, and integrin α4β7 (integrin α4β7) to treat inflammatory bowel disease. Currently, the drug is also in the IND declaration preparation stage.

However, up to now, the company does not have any commercialized products, nor has it earned revenue from product sales. According to the data, the company's net loss for the three months ended March 31 was US$18.7 million, compared with a net loss of US$15.2 million for the same period last year. The company hopes to use this IPO to fund research and development of various drugs for immune-mediated diseases.

Since its inception, Attovia has raised a total of US$255.8 million. Investors include investment institutions specialized in life sciences as well as existing major shareholders Deep Track Capital, Frazier Life Sciences, Goldman Sachs Group, and VenBio.

It is worth mentioning that biotech company IPOs have been one of the strongest performing sectors in the IPO market since this year. Among them, the stock price of Veradermics (MANE.US), which focuses on androgenic alopecia treatment, has accumulated a cumulative increase of more than 500% since its listing in early February this year; while Hemab Therapeutics (COAG.US), a hematologic disease treatment company, has accumulated a cumulative increase of 141% since its listing in early May this year.