Avalyn Pharma found strong investor interest in its inhalable drugs in development for two types of pulmonary fibrosis, enabling the company to upsize its IPO. Data from two mid-stage studies are expected in 2027.

The post Avalyn Pharma Takes a Breath to Raise $300M in IPO Cash for Lung Drug Trials appeared first on MedCity News.

Kailera Therapeutics’ IPO proceeds will support global clinical trials for its obesity drug candidates. Meanwhile, proteomics company Alamar Biosciences upsized its own IPO while clinical-stage biotechs Seaport Therapeutics and Hemab Therapeutics joined the IPO queue.

The post Kailera’s Upsized IPO Brings In $625M for Pipeline of Injectable & Oral Obesity Drugs appeared first on MedCity News.

Kailera Therapeutics’ planned IPO will fund ongoing clinical development of a pipeline led by a drug that could rival Eli Lilly’s Zepbound in both efficacy and tolerability. Meanwhile, Renaissance Capital’s recap of first quarter 2026 IPOs shows slowing activity amid market turbulence from tariffs and war.

The post Kailera Plans IPO for Obesity Drug That Could Top Lilly’s Zepbound appeared first on MedCity News.

Flagship Pioneering-founded Generate Biomedicines aims to offer less frequent injections compared to a blockbuster asthma drug from partners Amgen and AstraZeneca. Generate’s drug comes from a “programable biology” platform technology that uses AI and machine learning to design proteins with desirable properties.

The post Generate Biomedicines’ IPO Brings In $400M for Pivotal Tests of Severe Asthma Drug appeared first on MedCity News.

Across all industries, the total number of companies on track to go public could make this week the most active for IPOs since 2021. Despite the partial government shutdown, there are paths biotechs can pursue to the public markets.

The post The 4 Biotech Companies on Track to IPO this Week Despite the Government Shutdown appeared first on MedCity News.

Aktis Oncology’s IPO will support a pipeline of “miniprotein” radioconjugates that could offer advantages over other targeted radiation cancer treatments. In addition to its internal pipeline, Aktis has a discovery partnership with Eli Lilly.

The post Aktis Has First Biotech IPO of 2026, Raising $318M to Expand the Reach of Radiopharmaceuticals appeared first on MedCity News.

Obesity and diabetes drug R&D partnerships struck in 2025 represented $20.2 billion in total deal value, a new record high, according to a new report from J.P. Morgan. While IPO activity and venture investment trended downward, M&A activity was significantly higher.

The post J.P. Morgan Report: Obesity & Diabetes Dealmaking Set a New Record in 2025 appeared first on MedCity News.

LB Pharmaceuticals found enough investor interest to boost the size of its IPO, which will finance clinical trials in schizophrenia and bipolar depression. The biotech has modified an old Sanofi drug with changes intended to reduce side effects and allow less frequent dosing.

The post LB Pharma Pushes the Biotech IPO Window Open, Bagging $285M for Key Schizophrenia Drug Trial appeared first on MedCity News.

LB Pharmaceuticals’ planned IPO will fund late-stage clinical development of LB-102, a once-daily pill designed to improve on the old Sanofi schizophrenia drug Solian. The IPO filing follows a corporate restructuring in May that cut the jobs of LB’s chief financial and scientific officers to streamline operations and extend its cash runway.

The post With a New Take on an Old Schizophrenia Drug, LB Pharma Prepares IPO to Fund Phase 3 Test appeared first on MedCity News.

Caris Life Sciences applies AI and machine learning to patient samples to detect cancer and as a companion diagnostic guiding the use of targeted cancer therapies. As a commercial-stage company, Caris’s upsized public markets debut is an outlier amid the continuing IPO freeze for clinical-stage biotechs developing new drugs.

The post Precision Medicine Firm Caris Breaks Bio IPO Drought, Raising $494M for Cancer Analysis Tools appeared first on MedCity News.

Investors showed appetite for Metsera’s IPO, as shares of the clinical-stage metabolic medicines biotech popped 47% in their Nasdaq debut. Maze Therapeutics and Beta Bionics also priced IPOs; the three companies raised $636 million combined.

The post Metsera’s IPO Raises $275M to Show How Its Obesity Drugs Can Top Current GLP-1s appeared first on MedCity News.

Ascentage Pharma’s U.S. IPO will support clinical testing of its two lead drugs, small molecules in development for advanced cases of certain blood cancers. Takeda holds an exclusive option to develop and commercialize one of those drugs in most of the world.

The post Ascentage Has First U.S. Biotech IPO of 2025, Raising $126M to Bring Its Cancer Meds to the World appeared first on MedCity News.

Septerna’s lead program is in Phase 1 testing for hypoparathyroidism. The therapies available and in development for this rare disease are injectable, and Septerna aims to stand apart with an oral GPCR-targeting small molecule.

The post Septerna’s Upsized IPO Brings In $288M to Support a Pipeline of GPCR Drugs appeared first on MedCity News.

Upstream Bio will use its IPO haul to continue clinical testing of verekitug, which it contends could be a better treatment option for severe asthma compared to a commercialized Amgen and AstraZeneca drug. CAMP4 Therapeutics and CeriBell also priced IPOs to join the public markets.

The post Aiming to Outdo Rivals in Severe Asthma, Upstream Bio Upsizes IPO to $225M appeared first on MedCity News.

BioAge Labs’ lead drug candidate, azelaprag, is in Phase 2 testing in combination with Eli Lilly’s weight management medication Zepbound. The biotech’s oral drug activates a receptor it says can mimic certain biological effects of exercise.

The post Exercise Benefit in a Pill: BioAge Labs Goes Public, Raising More Than $200M for Clinical Trials appeared first on MedCity News.

The way venture capital firms invest in biotech startups has changed. Veteran VCs Chris Garabedian and Arjun Goyal offered their perspectives during a panel discussion at the World Medical Innovation Forum.

The post Two Venture Investors Offer Their Takes on the State of Biotech Investing Today appeared first on MedCity News.

Bicara Therapeutics’ IPO raised $315 million for Phase 3 testing of a bifunctional antibody drug with potential to become a first-line treatment for head and neck cancers. Zenas BioPharma and MBX Biosciences also went public; all three companies upsized their IPOs.

The post 3 Biotech IPOs, $703M Raised for Clinical Trials in Cancer, Immunology & Endocrine Disorders appeared first on MedCity News.

NeOnc Technologies is preparing to go public via the less common path of a direct listing as it continues mid-stage testing of its intranasally administered brain cancer drug. Meanwhile, the mostly stagnant biotech IPO pipeline is showing new signs of life with two large stock market debuts expected this week.

The post A Biotech Going Through the Nose to Treat the Brain Plots Alternative Path to Public Markets appeared first on MedCity News.

Alumis’s lead drug candidate blocks TYK2, an inflammation target that’s already addressed by Sotyktu, a Bristol Myers Squibb drug approved for plaque psoriasis. Alumis plans to begin two Phase 3 tests in this indication later this year.

The post Inflammation Biotech Alumis Trims IPO Plans But Still Raises $250M for Clinical Trials appeared first on MedCity News.

Rapport Therapeutics’ IPO came with a concurrent private placement that boosted the biotech’s cash haul. The new capital will support clinical development of a lead drug with a novel approach to focal epilepsy, a form of the disorder that affects 1.8 million people in the U.S.

The post Rapport’s Stock Market Debut Reaps $154M as Novel Epilepsy Med Heads for Mid-Stage Test appeared first on MedCity News.

Contineum Therapeutics plans to spend most of its IPO cash on clinical testing of a lead drug candidate in development for idiopathic pulmonary fibrosis and multiple sclerosis. This small molecule blocks a competitive target pursued by several other companies, including Bristol Myers Squibb and AbbVie.

The post J&J-Partnered Contineum Corrals $110M From IPO for Clinical Trials in Fibrosis & MS appeared first on MedCity News.

Cancer drug developer Boundless Bio is a pioneer in therapies that target extrachromosomal DNA. The IPO cash will support its pipeline, including a lead program on track to report preliminary data later this year.

The post Boundless Bio’s ‘BOLD’ IPO Reels In $100M for a New Kind of Cancer Drug appeared first on MedCity News.

Contineum Therapeutics, which emerged from a Verant Ventures startup creation engine, has filed paperwork for an IPO. The biotech’s clinical-stage pipeline spans multiple sclerosis, idiopathic pulmonary fibrosis, and depression.

The post With MS & Fibrosis Trials Planned, J&J-Partnered Contineum Now Preps for IPO appeared first on MedCity News.

Metagenomi finds novel gene-editing tools by mining microbial samples from around the world. Already partnered with Moderna and Ionis Pharmaceuticals, the company said its IPO cash will support ongoing preclinical research.

The post Moderna & Ionis-Partnered Biotech Lands $94M in IPO Cash for Gene-Editing R&D appeared first on MedCity News.

Alto Neuroscience will apply the IPO proceeds toward clinical tests of its psychiatric drugs in patients who exhibit certain biomarkers. The company’s two most advanced programs are depression drugs in mid-stage development.

The post Neuro Biotech Alto Adds $128M in IPO Cash for Biomarker-Based Psych Drugs appeared first on MedCity News.

Fractyl Health will use the IPO proceeds for pivotal testing of a medical device and surgical procedure intended to address root causes of diabetes and obesity. The Fractyl pipeline also includes a gene therapy for these conditions.

The post Metabolic Disorder-Focused Fractyl Health ‘GUTS’ Out a $110 Million IPO appeared first on MedCity News.

ArriVent BioPharma will apply the IPO cash toward furmonertinib, which the biotech says could offer advantages over Takeda Pharmaceutical and Johnson & Johnson drugs that address the same lung cancer target. It’s the second biotech IPO of this week, following CG Oncology.

The post ArriVent’s Nasdaq Debut Nabs $175M as Signs Indicate an Opening IPO Window appeared first on MedCity News.

CG Oncology’s main asset is cretostimogene, an oncolytic virus in late-stage development as a treatment for advanced bladder cancer. The IPO filing follows the report of interim efficacy data showing a 75% complete response rate.

The post With Phase 3 Studies Ongoing in Bladder Cancer, CG Oncology Plots Course for IPO appeared first on MedCity News.

The gene therapy programs of Lexeo Therapeutics span rare forms of cardiomyopathy and certain types of Alzheimer’s disease. But Lexeo’s IPO comes as a rival gene therapy developer sues the biotech, claiming its work employs stolen trade secrets.

The post Lexeo’s IPO Raises $100M for Gene Therapies That Treat the Heart, Protect the Brain appeared first on MedCity News.

Abivax pulled off stock market deals in the U.S. and Europe that infuse the biotech with capital to continue clinical development of a small molecule for inflammation that’s differentiated from biologic therapies. In other biotech IPO news, Cargo Therapeutics and Invea Therapeutics both filed paperwork to go public.

The post Abivax Adds $236M to Show Its Anti-Inflammatory Med Can Stand Apart in Crowded Field appeared first on MedCity News.