Attovia Therapeutics Inc., an early-stage drug developer, is aiming to raise up to $212.5 million through an initial public offering in the United States. The company focuses on developing treatments for immune-mediated diseases that currently have high unmet medical needs.

The biotech firm, which has received backing from Goldman Sachs, plans to list its shares on the Nasdaq under the ticker symbol 'ATTO'. Attovia's lead candidate is ATTO202, a potential treatment for various autoimmune conditions such as lupus, rheumatoid arthritis, and Sjögren's syndrome.

Attovia's IPO comes at a time when the biotechnology sector is experiencing renewed investor interest. The funds raised from the offering are intended to advance ATTO202 through clinical trials, including a Phase 2b study, and to support other pipeline programs. The company's strategy involves targeting specific pathways involved in immune dysregulation. The offering is expected to price in the coming weeks.