Goldman-Backed Biotech Attovia Seeks $212.5 Million in US IPO

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Or sign-in if you have an account.(Bloomberg) — Attovia Therapeutics Inc., an early-stage drug developer focused on immune-mediated diseases with high unmet need, is seeking to raise as much as $212.5 million in a US initial public offering.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe San Carlos, California-based biotech firm plans to sell 12.5 million shares at $15 to $17 each, according to its filing Wednesday with the US Securities and Exchange Commission.At the top of the range, Attovia would have a market value of nearly $655 million, based on the outstanding shares listed in its filing.Attovia is developing drugs using a technology platform and patents licensed from Alamar Biosciences Inc. Attovia has also raised $255.8 million as of March 31 from investors including an affiliate of Goldman Sachs Group Inc. as well as Deep Track Capital, Frazier Life Sciences and venBio, the filing shows.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againAlamar, a maker of medical devices focused on studying proteins and disease detection, set up Attovia as a separate company in 2023, and remains an investor. Alamar raised $219.9 million in an IPO, and the shares have climbed 43% since its debut in April.Attovia has one drug targeting interleukin-31 that has completed dosing in a Phase 1 trial and another targeting interleukin-13 that is expected to start trials in the first half of next year.IPOs of biotechnology and pharmaceutical companies have been among the strongest performing new listings this year, led by pattern hair loss-focused Veradermics Inc.’s 534% increase since its debut in February and a 149% gain in the shares of blood disorder specialist Hemab Therapeutics Inc. following its debut in May.Attovia’s IPO is being led by Morgan Stanley, Leerink Partners, Citigroup Inc. and Royal Bank of Canada. The offering is expected to price on Aug. 4, according to a management presentation. The shares are set to trade on the Nasdaq Global Market under the symbol ATTO.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.