Shao-Lee Lin, Acelyrin CEO

Ace­lyrin files to go pub­lic in rare sign of biotech IPO

Cal­i­for­nia biotech Ace­lyrin has filed to go pub­lic, a rare at­tempt to ac­cess the stock mar­kets af­ter a year of stock de­clines and cut­backs across the in­dus­try.

Ace­lyrin was found­ed by vet­er­ans of Hori­zon Ther­a­peu­tics in 2020, and in-li­cens­es drugs or ac­quires their own­ers, then funds their de­vel­op­ment. The start­up raised a $300 mil­lion Se­ries C last fall, on top of a $250 mil­lion Se­ries B in 2021. It was val­ued at $800 mil­lion af­ter the lat­est round, ac­cord­ing to Pitch­Book.

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