Waltham Biotech Startup Among 1st Locals To IPO In 2023

WALTHAM, MA — Apogee Therapeutics is likely to become the first local biotech company to IPO in 2023.

The timing is confirmed by multiple reports, and comes after Securities and Exchange Commission documents were filed on June 22 and July 10, revealing that the company is planning to list on Nasdaq for an expected offering of $228 million.

A Seeking Alpha report states that the shares would be priced between $15 and $17.

According to Fierce Biotech, the Waltham-based startup is the first "spinout" from Paragon Therapeutics, and only launched at the end of last year.

So why IPO so quickly?

The plan is that funds generated from the IPO will be used to fund clinical trials, research and manufacturing programs.

According to the company website, "Apogee Therapeutics is a biotechnology company seeking to develop differentiated biologics for the treatment of atopic dermatitis (AD), chronic obstructive pulmonary disease (COPD) and other inflammatory and immune (I&I) diseases with high unmet need."