Attovia Therapeutics raises $332m IPO as itch drug shows Phase 1b signal
Attovia Therapeutics has reported preliminary clinical proof of concept for its lead candidate ATTO-1310 in chronic pruritus and high-itch atopic dermatitis (AD), while disclosing that an upsized initial public offering completed in August 2026 raised $332.4 million in gross proceeds, extending the company's cash runway into 2030.
ATTO-1310 is an Fc-fusion protein targeting IL-31, a cytokine central to itch signalling, built on the company's proprietary ATTOBODY biparatopic biologics platform. Results from the double-blind, placebo-controlled Phase 1b study showed that a single dose produced rapid and sustained itch relief in both chronic pruritus and high-itch AD patient populations, with lesion control also observed in the AD cohort. Complete Phase 1b data are expected in the fourth quarter of 2026.
Pipeline and regulatory path
Attovia has submitted a Phase 2 protocol for chronic pruritus of unknown origin (CPUO) to the US Food and Drug Administration, incorporating the agency's feedback on design elements and endpoints. A separate global Phase 2 study in high-itch AD is also planned, both targeting initiation in the first half of 2027. In parallel, the company received investigational new drug clearance from China's National Medical Products Administration for a Phase 1b study in cholestatic pruritus associated with primary biliary cholangitis or primary sclerosing cholangitis, reportedly through an expedited review pathway that granted clearance in under 30 working days.
Two earlier-stage candidates are also advancing toward the clinic. ATTO-2306 is a bispecific antibody targeting both IL-31 and IL-13, intended for AD and other immune-mediated skin conditions. ATTO-1091 is a trispecific antibody targeting TL1A, IL-23p19 and integrin α4β7, developed for inflammatory bowel disease. Both are in IND-enabling activities with Phase 1 initiation targeted for the first half of 2027.
Founder and chief executive Tao Fu said the Phase 1b data provide "important validation of both the program and our ATTOBODY platform," and described the company as focused on building a multi-product biotechnology business in immune-mediated diseases.
Market context
The IL-31 pathway is an established but still active target in pruritic diseases. Nemolizumab, an anti-IL-31 receptor antibody developed by Galderma, received FDA approval for prurigo nodularis in 2024 and is in late-stage development for AD, placing it as a direct competitive reference point for ATTO-1310. Dupilumab, which targets IL-4 and IL-13, remains the dominant biologic in moderate-to-severe AD with substantial market penetration, while a number of investigational bispecifics and small molecules are vying for position in the broader itch and dermatology space. Attovia's bet on a half-life extended, biparatopic format is positioned by the company as a differentiated approach, though longer-term durability data and head-to-head comparisons will be required before that claim can be fully assessed.
On the financial side, the company posted a net loss of $20.7 million for the second quarter ended 30 June 2026, against $14.4 million in the same period of 2025. R&D expenditure rose to $18.9 million from $13.6 million year on year, reflecting clinical and manufacturing costs as ATTO-1310 progressed through Phase 1. Cash, cash equivalents and marketable securities stood at $115.1 million at quarter end, prior to receipt of the IPO net proceeds of approximately $305.4 million. The combined position is expected to fund operations through 2030, providing meaningful runway to read out Phase 2 data and advance the broader pipeline.