Attovia CEO Fu plans muscle in on itch market with $289M IPO to challenge Dupixent

Attovia Therapeutics raised $289 million from an upsized IPO on Nasdaq under the ticker ATTO, pricing 17 million shares at $17 each.

CEO Tao Fu aims to challenge Dupixent (Sanofi/Regeneron) with ATTO-2306, a bispecific IL‑13/IL‑31 inhibitor designed for less frequent dosing and superior efficacy, as Dupixent faces biosimilar competition around 2031.

Lead asset ATTO‑1310, an anti‑IL‑31 biologic, targets chronic pruritus of unknown origin and high‑itch atopic dermatitis, with Phase 2 trials planned for 2027; early data show 65% itch responders vs 0% on placebo.

Net proceeds will fund Phase 2 trials for ATTO‑1310 and a Phase 1 program for ATTO‑2306, plus broader pipeline and working capital, valuing the company at roughly $730–$770 million post‑IPO.

Attovia pitches its drugs as improvements over Nemluvio (Galderma) and existing options, citing better potency, monthly or less frequent dosing, and fewer adverse events.