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

Attovia Therapeutics

04/08/2026 12:49

Aug 4 (Reuters) - Biopharmaceutical company Attovia Therapeutics said on Tuesday it was targeting a valuation of $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 $289 million by offering 17 million shares priced at $17 apiece.
It had earlier aimed to raise up to $212.5 million by offering about 12.5 million shares priced between $15 and $17 apiece.
An entity affiliated with Goldman Sachs will own about a 5.7% 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)
((Prakhar.srivastava2@thomsonreuters.com;))