Akston Biosciences, a biotech developing antibody and protein therapies for pets, filed on Wednesday with the SEC to raise up to $20 million in an initial public offering.
The Beverly, MA-based company plans to raise $20 million by offering 2.2 million shares at a price range of $8 to $10. At the midpoint of the proposed range, Akston Biosciences would command a market cap of $100 million.
Akston Biosciences develops biologic therapeutics for companion animals, targeting cancer, dermatitis, osteoarthritis pain, and obesity. Its lead candidate, AKS-701d, an antibody for canine bladder cancer, is eligible for conditional USDA-CVB licensure and in pilot testing. Additional programs, developed using its Ambifect Fc-fusion platform, aim to provide longer-lasting treatments. Akston operates a manufacturing facility in Beverly, Massachusetts, and plans to commercialize products in the U.S. and through partners abroad.
The Beverly, MA-based company was founded in 2011 and booked $7 million in revenue for the 12 months ended June 30, 2025. It plans to list on the NYSE American under the symbol AXTN. Akston Biosciences filed confidentially on July 25, 2025. ThinkEquity is the sole bookrunner on the deal.
