Attovia Therapeutics has raised $289 million to fund research on a group of treatments for skin disorders and inflammatory conditions that harness a new kind of antibody-drug technology.
The startup sold 17 million shares at $17 apiece in an upsized initial public offering that secured 45% more than Attovia first anticipated and values the company at $767 million. Shares were expected to begin trading on the Nasdaq stock exchange Wednesday under the ticker symbol “ATTO.”
Attovia launched in 2023 as a spinout of another company, Alamar Biosciences. Its goal was to develop antibody drugs designed with Alamar’s “Attobody” technology, which is supposed to create drugs that can better bind to hard-to-reach targets.
As a private company, Attovia raised about $256 million in venture funding. That cash helped advance an experimental drug called ATTO-1310 that’s now in Phase 1 testing as well as a portfolio of five other preclinical prospects for various inflammatory or respiratory conditions.
ATTO-1310 targets IL-31, which Attovia calls the “itch cytokine.” The ongoing early-stage trial is evaluating the treatment in chronic pruritis, or itching, and “high-itch” eczema. Attovia is also planning studies testing it against itching in people with chronic kidney and liver diseases, and is eyeing a “pan-pruritic disease regulatory development path for patients with elevated levels of IL-31,” according to a regulatory filing.
The company has two other drug candidates close to human testing. One is called ATTO-2306 and targets both IL-31 and another cytokine, IL-13. Attovia sees it as a possible treatment of inflammatory skin conditions like eczema or chronic spontaneous urticarias. The second, ATTO-1091, is a triple-acting drug for inflammatory bowel disease that includes among its targets TL1A, a protein being studied by several drugmakers including Merck & Co., Roche and a partnership between Sanofi and Teva.
Attovia’s IPO is the 16th of 2026 and ranks ninth in terms of total proceeds in a year that’s seen multiple companies price record-breaking offerings and 12 secure $250 million or more, according to BioPharma Dive data.
Overall, the sector has already surpassed the particularly low 11 IPO total recorded in 2025, data show. Four more drugmakers could price offerings over the next two days.
