Renaissance Capital logo

CNS disorder biotech Alto Neuroscience files for a $100 million IPO

January 12, 2024

Alto Neuroscience, a Phase 2 biotech developing biomarker-focused therapies for depression and schizophrenia, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

Alto Neuroscience is focused on leveraging neurobiology to develop personalized and highly effective treatment options. Through its proprietary Precision Psychiatry Platform, it aims to discover brain-based biomarkers to better identify which patients are more likely to respond to its novel product candidates. The company's current pipeline consists of five clinical-stage assets initially targeting major depressive disorder (MDD) and schizophrenia populations characterized by independent brain-based biomarkers. Its most advanced programs are being evaluated in ongoing Phase 2b trials in MDD patients characterized by cognitive or electroencephalography biomarkers. Topline data from these trials is expected between the 2H24 and the 1H25.

The Los Altos, CA-based company was founded in 2019 and plans to list on the NYSE under the symbol ANRO. Jefferies, TD Cowen, Stifel, William Blair, and Baird are the joint bookrunners on the deal. No pricing terms were disclosed.