Clinical-stage biotechnology company Attovia Therapeutics has unveiled the terms of its proposed initial public offering, seeking to raise approximately $200 million to advance its pipeline of biologic therapies targeting immune-mediated diseases.
The San Carlos, California-based company plans to offer 12.5 million shares at a price range of $15 to $17 per share. At the midpoint of the proposed range, Attovia Therapeutics would command a fully diluted market valuation of approximately $649 million.
The company intends to list its shares on the Nasdaq under the ticker symbol ATTO, with Morgan Stanley, Leerink Partners, Citi, RBC Capital Markets, and LifeSci Capital serving as joint bookrunners.
Proprietary ATTOBODY Platform Drives Development Strategy
Attovia Therapeutics is a clinical-stage biopharmaceutical company developing biologic therapies for immune-mediated diseases through its proprietary ATTOBODY platform. The technology utilizes biparatopic nanobody engineering, licensed from Alamar Biosciences, to create highly targeted therapeutics designed to address complex inflammatory conditions.
The company’s platform is intended to improve treatment precision by simultaneously targeting multiple disease pathways involved in chronic inflammatory disorders.
Lead Candidate Advances Through Early Clinical Development
Attovia’s lead investigational therapy, ATTO-1310, targets interleukin-31 (IL-31), a cytokine closely associated with chronic itch and inflammatory skin diseases.
The candidate has completed Phase 1 dosing in both healthy volunteers and patients suffering from chronic pruritus and atopic dermatitis, providing the company with its most advanced clinical program.
Data generated from these early studies is expected to guide future clinical development as Attovia seeks to address diseases with significant unmet medical needs.
Additional Pipeline Targets Dermatology and Gastrointestinal Diseases
Beyond its lead program, Attovia is expanding its biologics portfolio with several next-generation therapeutic candidates.
ATTO-2306 is a bispecific antibody designed to simultaneously target IL-13 and IL-31, two inflammatory pathways implicated in atopic dermatitis and related skin disorders. The candidate is currently completing IND-enabling studies, with a Phase 1 clinical trial planned for the first half of 2027.
The company is also developing ATTO-1091, a trispecific biologic targeting TL1A, IL-23, and integrin α4β7 for the treatment of inflammatory bowel disease (IBD). This program is likewise in IND-enabling development as Attovia broadens its focus beyond dermatology into gastrointestinal inflammatory conditions.
Early-Stage Company Without Commercial Revenue
Founded in 2022, Attovia remains an early-stage biotechnology company and has no approved products or revenue from commercial sales. Like many emerging biopharmaceutical developers, its valuation is based primarily on the potential of its proprietary platform technology and the future success of its clinical pipeline.
Proceeds from the IPO are expected to fund ongoing clinical development, support regulatory activities, expand research programs, and provide working capital for general corporate purposes.
Outlook
Attovia Therapeutics enters the public markets as investor interest in immunology and inflammatory disease treatments remains strong, supported by continued advances in biologic therapies. The planned $200 million offering will provide additional resources to accelerate development of its ATTOBODY platform while advancing multiple clinical candidates targeting dermatological and gastrointestinal immune disorders.
