Goldman Sachs-backed Attovia eyes US$731.5 million valuation in upsized U.S. IPO

A trader works on the floor of the New York Stock Exchange, Thursday, July 30, 2026, in New York. (AP Photo/Yuki Iwamura)

Biopharmaceutical company Attovia Therapeutics said on Tuesday it was targeting a valuation of US$731.5 million in its upsized initial public offering, signaling strong demand for biopharma listings.

Here are some details:

• The San Carlos, California-based company is now seeking US$289 million by offering 17 million shares priced at US$17 apiece.
• It had earlier aimed to raise up to US$212.5 million by offering about 12.5 million shares priced between US$15 and US$17 apiece.
• An entity affiliated with Goldman Sachs will own about a 5.7 per cent stake in Attovia, according to the company’s filing.
• Founded in 2023, Attovia ⁠develops biologic therapies for immune-mediated diseases using its ATTOBODY platform, with drug candidates targeting inflammatory skin conditions and inflammatory bowel disease.
• Attovia ​plans to use the IPO proceeds, along with existing cash, to advance the development of its lead drug ​candidates, fund research and development activities and ​for working capital and general corporate purposes.
• The company plans to list on the Nasdaq Global Market under the symbol “ATTO.”
• Morgan Stanley, Leerink Partners, ⁠Citigroup ​and RBC Capital Markets are ​among the underwriters for the offering.

(Reporting by Prakhar Srivastava in Bengaluru; Editing by Jonathan Ananda)