Artiva Biotherapeutics, a Phase 1 biotech developing off-the-shelf natural killer cell-based therapies for autoimmune diseases, announced terms for its IPO on Monday.
The San Diego, CA-based company plans to raise $131 million by offering 8.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Artiva Biotherapeutics would command a fully diluted market value of $279 million.
Artiva is focused on developing natural killer (NK) cell-based therapies for patients suffering from autoimmune diseases and cancers. Its candidates are derived from donor cells (allogeneic) rather than a patient's own cells (autologous) and are pre-manufactured, stored frozen, and ready to ship, making them what it believes to be "off-the-shelf." Its lead candidate, AlloNK, is currently in an ongoing Phase 1/1b trial in lupus nephritis and a basket investigator-initiated trial in multiple autoimmune indications. Artiva expects to report initial data from at least one of these trials in the 1H25.
Artiva Biotherapeutics was founded in 2019 and booked $33 million in collaboration and license revenue for the 12 months ended March 31, 2024. It plans to list on the Nasdaq under the symbol ARTV. Jefferies, TD Cowen, and Cantor Fitzgerald are the joint bookrunners on the deal. It is expected to price during the week of July 15, 2024.
