Attovia Therapeutics, a Phase 1 biotech developing biotherapeutics for immune-mediated diseases, raised the proposed deal size for its upcoming IPO on Tuesday.
The San Carlos, CA-based company now plans to raise $289 million by offering 17 million shares at $17. The company had previously filed to offer 12.5 million shares at a price range of $15 to $17. At the revised terms, Attovia Therapeutics will raise 45% more in proceeds than previously anticipated and command a fully diluted market value of $767 million.
Attovia Therapeutics is a clinical-stage biopharmaceutical company developing biologics for immune-mediated diseases using its ATTOBODY platform, a biparatopic nanobody-based technology licensed from Alamar Biosciences. Its lead candidate, ATTO-1310, targets IL-31 and has completed Phase 1 dosing in healthy volunteers and patients with chronic pruritus and atopic dermatitis. A second candidate, ATTO-2306, is a bispecific targeting IL-13 and IL-31 for atopic dermatitis and related skin conditions, currently in IND-enabling studies with a Phase 1 trial planned for 1H27. A third candidate, ATTO-1091, is a trispecific targeting TL1A, IL-23, and integrin α4β7 for inflammatory bowel disease, also in IND-enabling studies. The company has no products on the market and no revenue from product sales to date.
Attovia Therapeutics was founded in 2022 and booked $1 million in revenue for the 12 months ended March 31, 2026. It plans to list on the Nasdaq under the symbol ATTO. Morgan Stanley, Leerink Partners, Citi, RBC Capital Markets, and LifeSci Capital are the joint bookrunners on the deal. It is still expected to price during the week of August 3, 2026.
