Alamar, Hemab, Kailera, and Seaport advance IPOs

The last few days have seen a flurry of biotech IPO news, continuing the strong start to 2026, with Alamar, Hemab, Kailera, and Seaport all pushing for Nasdaq listings.

Alamar's protein biomarker platform

Californian start-up Alamar Biosciences, which is developing a proteomics-based biomarker platform for disease detection, has said it plans to offer 9.4 million shares for between $15 and $17 as it seeks a Nasdaq listing under the ALMR symbol. If it meets that target range, the IPO will raise between $133-$154 million.

The Fremont-based biotech is developing proprietary platforms, NULISA and ARGO HT, that can be used by researchers to identify protein biomarkers across disease states. In March, for example, it launched a NULISA panel that can measure 220 neurology-focused biomarkers from a single sample, which can be used as a tool by researchers developing assays for diseases like Alzheimer's and Parkinson's.

According to its IPO prospectus, Alamar was formed in 2018 and generated $74 million in revenue last year from the sale of instruments, consumables, and software. Proceeds from the IPO are earmarked for building its commercial and customer support functions and increasing its manufacturing capacity.

Hemab heads toward pivotal trials

Hemab Therapeutics, chaired by former Alnylam chief executive John Maraganore, has published its redacted IPO prospectus with an estimated placeholder value of around $100 million.

The specialist in blood coagulation disorder therapies is running phase 2 trials of sutacimig, a bispecific antibody that binds to and stabilises endogenous FVIIa on one arm and the transmembrane protein TLT-1 on activated platelets with the other, which could become the first prophylactic treatment for Glanzmann thrombasthenia (GT), a serious and potentially life-threatening bleeding disorder. Along with providing funding for pivotal studies in GT and follow-up indication FVII deficiency, the IPO proceeds will also go towards a registration study of Hemab's second candidate, HMB-002, which targets VWF and FVIII and is being developed for von Willebrand disease.

Cambridge, Massachusetts-based Hemab is planning to list on the Nasdaq under the COAG symbol.

Obesity drug developer Kailera prices its listing

After revealing plans for an IPO last month, cardiometabolic disease-focused biotech Kailera Therapeutics has revealed its pricing plans, seeking to sell 33.3 million shares for between $14 and $16 each and list under the KLRA symbol, which could raise upwards of $500 million.

Waltham, Massachusetts-based Kailera recently reported phase 2 results with an oral version of dual GIP and GLP-1 agonist ribupatide (KAI9531), licensed from China's Hengrui Pharma, and has a once-weekly injectable version in phase 3 testing. Its pipeline also includes an oral GLP-1 candidate, KAI-7535, and a 'triple G' (GIP, GLP-1 and glucagon) agonist called KAI-4729, which are due to start clinical testing in the US in the coming months, with results due in 2027.

The decision to go public comes just a few months after Kailera raised $600 million in Series B financing, and an equally impressive $400 million first round.

Seaport seeks funds for neuropsychiatric candidates

PureTech health-incubated Seaport Therapeutics has also published a redacted IPO prospectus, with no pricing details or number of shares to be offered disclosed as yet, but a plan to use the funds to progress clinical development of its lead major depressive disorder (MDD) candidate GlyphAllo (SPT-300). It intends to list under the SPTX symbol.

Boston-based Seaport's Glyph platform is used to design drugs that avoid first-pass metabolism for orally administered drugs in the liver, which means that a large proportion of a dose is broken down before it reaches the bloodstream. Glyph drugs are designed to be absorbed through the lymphatic system, avoiding the liver, much like dietary fats.

GlyphAllo is a prodrug of allopregnanolone – a synthetic form of which was sold as Zulresso (brexanolone) by Sage as an intravenous treatment for severe post-partum depression, before being discontinued in 2024 – but can be dosed orally. It is in phase 2b trials in MDD, as well as a phase 1 study in generalised anxiety disorder that recently generated positive results.