Biotechnology company Lycia Therapeutics, founded in 2019 by Nobel laureate Carolyn Bertozzi, is targeting a valuation of up to $937.7 million in a U.S. IPO to raise $264.6 million on the Nasdaq under symbol LYCA. The South San Francisco firm joins a wave of fall healthcare listings, including City Therapeutics' $230 million upsized offering and Iambic Therapeutics, as investors selectively back biotech developers.
Lycia Therapeutics initial public offering terms
- ▪Lycia Therapeutics is targeting a market valuation of up to $937.7 million in its U.S. initial public offering announced on October 20, 2026.
- ▪Lycia Therapeutics is seeking to raise up to $264.6 million in its U.S. initial public offering by offering 14.7 million common shares.
- ▪Lycia Therapeutics set the price range for its initial public offering shares between $16 and $18 per share.
Lycia Therapeutics listing and bookrunners
- ▪Lycia Therapeutics plans to list its common stock on the Nasdaq Global Market under the ticker symbol LYCA.
- ▪Jefferies, TD Cowen, Evercore ISI, and Guggenheim Securities are serving as joint book-running managers for the Lycia Therapeutics offering.
Lycia Therapeutics funding and shareholders
- ▪Lycia Therapeutics has raised approximately $266.6 million from life sciences investors since its founding in 2019.
- ▪Major shareholders in Lycia Therapeutics include Versant Ventures, Venrock Healthcare, Redmile Group, RTW Investments, Janus Henderson, and Blue Owl.
Lycia Therapeutics overview and pipeline
- ▪Nobel Prize winner Carolyn Bertozzi co-founded South San Francisco-based biotechnology firm Lycia Therapeutics.
- ▪South San Francisco-based Lycia Therapeutics was founded in 2019 to develop targeted therapeutics designed to treat autoimmune, inflammatory, and allergic diseases.
- ▪Lycia Therapeutics is advancing its lead experimental drug candidate LCA-0061 in an early-stage clinical trial for patients with food allergies.
Other recent biotech initial public offering activity
- ▪Aspen Neuroscience and Bambusa Therapeutics filed registration statements for U.S. initial public offerings in early October 2026.
- ▪Drug developers City Therapeutics and Nvidia-backed Iambic Therapeutics completed initial public offerings in New York in October 2026.
City Therapeutics initial public offering
- ▪City Therapeutics common stock began trading on the Nasdaq Global Market under ticker symbol CTY on October 16, 2026.
- ▪City Therapeutics closed an upsized initial public offering of 12,777,777 common shares at $18.00 per share on October 19, 2026, raising $230.0 million in gross proceeds.
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