Kailera Therapeutics filed for an initial public offering in the United States on Friday, becoming the latest biotechnology company seeking to attract investors as listings in this sector gain momentum.
American companies have continued their IPO plans even as the conflict in the Middle East threatens to shake investor appetite for risk.
Generate Biomedicines’ shares (GENB.O), backed by the flagship company, dropped more than 6% in their debut on the Nasdaq last month, giving the drug developer a valuation of $1.91 billion.
Based in Waltham, Massachusetts, Kailera develops weight loss drugs to assist patients in losing weight.
The demand for obesity drugs has surged, fueling intense competition among drug manufacturers such as Novo Nordisk (NOVOb.CO) and Eli Lilly (LLY.N), who currently lead the race.
Earlier this year, Kailera and its partner Jiangsu Hengrui Pharmaceuticals (600276.SS) announced that their experimental oral obesity drug helped patients lose up to 12.1% of their body weight after 26 weeks in a mid-stage study in China.
Established in October 2024 with $400 million in startup funding and four obesity candidate drugs licensed from Hengrui, Kailera has applied to be listed on the Nasdaq under the symbol “KLRA.”
JPMorgan, Jefferies, Leerink Partners, TD Cowen, Evercore ISI, and William Blair are among the underwriters of the offering.
