Attovia Therapeutics Soars to $731.5 Million Valuation in Upsized IPO
Attovia Therapeutics, a biopharmaceutical company backed by Goldman Sachs, is targeting a valuation of $731.5 million in its upsized initial public offering (IPO). The company had initially aimed to raise up to $212.5 million but has increased the target due to strong demand for biopharma listings.
Attovia, founded in 2023, develops biologic therapies using its ATTOBODY platform, targeting inflammatory skin conditions and inflammatory bowel disease. The company plans to use the IPO proceeds to advance the development of its lead drug candidates, fund research and development activities, and cover working capital and general corporate purposes.
The entity affiliated with Goldman Sachs will own approximately 5.7% of Attovia's stake following the IPO. Morgan Stanley, Leerink Partners, Citigroup, and RBC Capital Markets are among the underwriters for the offering. Attovia plans to list on the Nasdaq Global Market under the symbol 'ATTO'.