ADARx Pharmaceuticals eyes a $1.74 billion valuation as it joins a wave of biotech listings, supported by a strategic $100 million investment from AbbVie.
ADARx is targeting a $1.74 billion valuation in its US IPO with AbbVie investing $100 million, signaling strong investor demand.
AbbVie agreed to invest up to $100 million in ADARx's concurrent private placement, building on its $335 million research collaboration.
Electra Therapeutics debuted in the market after raising $350 million in an upsized IPO, indicating strong investor appetite.
TRex Bio filed for a US IPO, part of the recent wave of biotech listings.
ADARx Pharmaceuticals is seeking a valuation of up to $1.74 billion in its upcoming US IPO, aiming to raise $371.9 million. The offering is bolstered by a $100 million investment from AbbVie, which deepens an existing research collaboration between the two firms.
ADARx develops RNA-based drugs targeting rare diseases in the immunity, kidney, cardiovascular, and neurological systems.
AbbVie is deepening its existing research collaboration with ADARx, which previously included a $335 million payment for partnership rights.