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Biotechnology company Artiva biotherapeutics (ARTV.US) priced its IPO at $14-16 per share, planning to raise $131 million.

AInvestTuesday, Jul 16, 2024 3:40 am ET
1min read

Biotechnology company Artiva biotheraptics (ARTV.US) announced its IPO terms on Monday. The company plans to price its initial public offering at $14 to $16 per share, raising $131 million, and expects to have a fully diluted market capitalization of $279 million at the midpoint of the proposed range.

It is expected to price this week. The company plans to list on the Nasdaq under the symbol ARTV. The company previously applied for an IPO in 2021 but ultimately withdrew its IPO in late 2022.

Artiva biotheraptics is a first-in biotech company developing a ready-made cell-based immunotherapy for autoimmune diseases using natural killer cells. The company is focused on developing cell-based immunotherapies for patients with autoimmune diseases and cancer. Its candidate cells are derived from donor cells (allogeneic), not the patient’s own cells (autologous), and are manufactured, cryopreserved and ready to ship, making them what it calls “ready-made.”

Its lead candidate drug, AlloNK, is currently in a Phase 1b trial for lupus nephritis and a single-arm investigator-initiated trial for multiple autoimmune adaptive syndromes. Artiva expects to report preliminary data from at least one trial in the first half of next year.

Artiva Biotherapeutics was founded in 2019 and had revenue of $33 million in the 12 months ended March 31, 2024. Jefferies, TD Cowen and Cantor Fitzgerald are the joint lead managers on the transaction.

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