Bambusa Therapeutics Inc. (BBTX.US) has filed for an initial public offering, with plans to raise capital for clinical trials developing treatments for eczema and other inflammatory diseases.
According to a Friday filing with the U.S. Securities and Exchange Commission, the Boston-based company is developing long-acting bispecific antibodies to address unmet needs in the global immunology and inflammation market.
This market exceeds $150 billion annually and covers skin, respiratory, digestive, and autoimmune diseases.
Founded in 2024, Bambusa acquired its main drug candidates through the previous purchase of assets from a division of BioNTech SE (BNTX.US). The first candidate targets atopic dermatitis, commonly known as eczema, while the second targets other inflammatory diseases including respiratory and allergic conditions.
The company's largest investors include Salvia Investment, RA Capital Management, entities linked to German billionaire Thomas Strüngmann, San Francisco-based healthcare investment firm BVF Partners, Dawn Biopharma controlled by KKR & Co., and Hong Kong-based INCE Capital.
The filing shows that co-founder Shanshan Xu, a former BioNTech SE (BNTX.US) executive, beneficially holds 21.5% of Bambusa's shares.
According to statements at the time, Bambusa completed a funding round in November of last year, with participation from existing investors including RA Capital, Janus Henderson Investors, and Dawn Biopharma.
The filing shows this financing raised $33.1 million, with a valuation significantly higher than the $89 million round earlier that year.
As of the end of June, Bambusa held $71.5 million in cash and equivalents.
The filing shows that for the six months ended June 30, 2026, the company had no revenue and a net loss of $22.4 million; during the same period last year, it also had no revenue and a net loss of $13 million.
The IPO is being led by Bank of America, Evercore Inc., UBS Group, and Cantor Fitzgerald.
Bambusa expects its shares to trade on the Nasdaq Global Select Market under the ticker symbol BBTX.