Key facts
- Attovia Therapeutics is seeking to raise $289 million in its upsized IPO.
- The company is targeting a valuation of $731.5 million.
- Attovia plans to offer 17 million shares at $17 per share.
- An entity affiliated with Goldman Sachs will hold a 5.7% stake in Attovia.
- Attovia develops biologic therapies for immune-mediated diseases using its ATTOBODY platform.
- The company plans to list on the Nasdaq under the symbol "ATTO."
Biopharmaceutical company Attovia Therapeutics is aiming for a valuation of $731.5 million in an upsized initial public offering, signaling continued investor interest in the sector. The company now seeks to raise $289 million by offering 17 million shares at $17 each, an increase from its earlier target of up to $212.5 million. An entity affiliated with Goldman Sachs will hold approximately a 5.7% stake in Attovia following the offering. Founded in 2023, Attovia focuses on developing biologic therapies for immune-mediated diseases, utilizing its ATTOBODY platform. The proceeds from the IPO will be used to advance its lead drug candidates, fund research and development, and for general corporate purposes. Attovia plans to list on the Nasdaq Global Market under the ticker symbol "ATTO." Morgan Stanley, Leerink Partners, Citigroup, and RBC Capital Markets are among the underwriters for the offering.