Rare disease biotech Rallybio files for a $100 million IPO

Rallybio, a Phase 1 biotech developing antibodies for rare diseases, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

Rallybio is currently advancing its lead program, RLYB211, in a Phase 1/2 trial for the treatment of fetal and neonatal alloimmune thrombocytopenia, or FNAIT, a potentially life-threatening rare hematological disease affecting fetuses and newborns. RLYB211 is a polyclonal anti-HPA-1a antibody and is expected to report data from its Phase 1/2 trial in July 2021. The company also has four preclinical programs, one of which, RLBY212, is also being developed for the treatment of FNAIT, and two of which are being developed for the treatment of complement dysregulation diseases.

The New Haven, CT-based company was founded in 2018 and plans to list on the Nasdaq under the symbol RLYB. Jefferies, Cowen, and Evercore ISI are the joint bookrunners on the deal. No pricing terms were disclosed.