Bambusa Therapeutics, a Phase 2 biotech developing bispecific antibodies for inflammatory diseases, raised $169 million by offering 10.6 million shares at $16, within the $15 to $17 range. At pricing, the company commands a fully diluted market value of $856 million.
Bambusa Therapeutics is a clinical-stage biotech developing long-acting bispecific antibodies for immunology and inflammatory diseases. Its lead candidate, BBT001, targets IL-4Rα and IL-31. It is in Phase 1 trials for atopic dermatitis, where it reported initial proof-of-concept data in July 2026, and in a Phase 2a trial in China for chronic spontaneous urticaria. Its second candidate, BBT002, targets IL-4Rα and IL-5 and is in Phase 1 to Phase 2a trials for COPD, chronic rhinosinusitis with nasal polyps, and asthma. The company also has two preclinical programs: BBT003, which targets TL1A and IL-23p19 for inflammatory bowel disease, and BBT004, a B-cell-depleting bispecific for autoimmune disease. Bambusa licensed its lead assets from BioNTech’s Chinese subsidiary.
The Boston, MA-based company will trade on the Nasdaq under the symbol BBTX. BofA Securities, Evercore ISI, UBS Investment Bank, and Cantor Fitzgerald acted as joint bookrunners on the deal.
