on HBM Healthcare Investments AG (ETR:CH001262)
Lycia Therapeutics Raises USD 317.5 Million in Nasdaq Debut
HBM Healthcare Investments announced the IPO success of Lycia Therapeutics, its portfolio company. The biotechnology firm, focused on degrading extracellular proteins to treat autoimmune and allergic diseases, raised USD 317.5 million by pricing its offering at USD 18 per share. The shares began trading on Nasdaq on October 23, 2026, under LYCA, closing at USD 30 on the first day, a 66.7% gain from the IPO price.
HBM invested a total of USD 13.5 million in Lycia, acquiring a 2.2% stake now valued at USD 36.8 million. Lycia's advancements are rooted in its LYTAC platform, with leading candidates targeting food allergies and Graves' disease. The company's foundation is linked to Nobel laureate Carolyn Bertozzi's work.
R. E.
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