Alamar Biosciences, which provides a protein biomarker detection platform for disease detection research, raised $191 million by offering 11.3 million shares at $17, the high end of the $15 to $17 range. The company sold 20% more shares than the 9.4 million originally intended.
Alamar develops and commercializes proteomics technologies designed to detect and analyze protein biomarkers at very low concentrations in biological samples such as blood. Its platform combines proprietary instruments, consumables, and software to provide an end-to-end system for measuring multiple low-abundance proteins across research and potential clinical applications. The company’s technology is used in areas ranging from early-stage discovery to translational research, with an emphasis on enabling more precise and consistent protein detection.
The Fremont, CA-based company will trade on the Nasdaq under the symbol ALMR. J.P. Morgan, BofA Securities, TD Cowen, Leerink Partners, and Stifel acted as joint bookrunners on the deal.
