Rare disease biotech Rallybio prices IPO at $13 low end

Rallybio, a Phase 1/2 biotech developing antibody therapies for rare diseases, raised $81 million by offering 6.2 million shares at $13, the low end of the range of $13 to $15. The company offered 0.5 million more shares than anticipated.

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.

Rallybio plans to list on the Nasdaq under the symbol RLYB. Jefferies, Cowen, and Evercore ISI acted as joint bookrunners on the deal.