Attovia Therapeutics Inc., an early-stage drug developer focused on the field of immune system diseases with high unmet demand, raised $289 million in a US initial public offering, and the offering price reached the upper end of its pricing range. The San Carlos, California-based biotech company scaled up its funding early Tuesday, eventually selling 17 million shares at a price of $17 per share. According to an earlier document, the company initially planned to issue 12.5 million shares at a price of 15 to 17 US dollars each. At the IPO price, Attovia's market capitalization reached $731.5 billion based on the issued shares listed in the filing documents. Attovia is developing drugs using technology platforms and patents licensed from Alamar Biosciences Inc. As of March 31, Attovia had raised $255.8 million from investors including Goldman Sachs Group affiliates, Deep Track Capital, Frazier Life Sciences, and VenBio, according to the documents.

Attovia Therapeutics Inc., an early-stage drug developer focused on the field of immune system diseases with high unmet demand, raised $289 million in a US initial public offering, and the offering price reached the upper end of its pricing range. The San Carlos, California-based biotech company scaled up its funding early Tuesday, eventually selling 17 million shares at a price of $17 per share. According to an earlier document, the company initially planned to issue 12.5 million shares at a price of 15 to 17 US dollars each. At the IPO price, Attovia's market capitalization reached $731.5 billion based on the issued shares listed in the filing documents. Attovia is developing drugs using technology platforms and patents licensed from Alamar Biosciences Inc. As of March 31, Attovia had raised $255.8 million from investors including Goldman Sachs Group affiliates, Deep Track Capital, Frazier Life Sciences, and VenBio, according to the documents.