Attovia Therapeutics, a Phase 1 biotech developing biotherapeutics for immune-mediated diseases, raised $289 million by offering 17 million shares at $17, as expected. The company originally filed to offer 12.5 million shares at a range of $15 to $17, before it increased the deal size on Tuesday.
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.
The San Carlos, CA-based company will trade on the Nasdaq under the symbol ATTO. Morgan Stanley, Leerink Partners, Citi, RBC Capital Markets, and LifeSci Capital acted as joint bookrunners on the deal.
