An­oth­er biotech — Seat­tle-based Athi­ra — files for an IPO, hop­ing to fi­nal­ly break through in Alzheimer's

Yet an­oth­er biotech is aim­ing to go pub­lic, as this year’s IPO boom con­tin­ues to show no sign of abat­ing any time soon.

The newest en­trant to the mar­ket is Athi­ra Phar­ma, a small, Seat­tle-based com­pa­ny that pegs a $100 mil­lion tar­get as its raise es­ti­mate. So far in 2020, there have al­ready been 48 biotech IPOs, a num­ber that sur­pass­es the to­tal from all of 2019.

Per­cep­tive is the most promi­nent backer of the com­pa­ny, per the SEC fil­ing, with the Joe Edel­man-run hedge fund own­ing 11.6% of shares. RTW In­vest­ments put in a 10.9% stake, and Athi­ra CEO Leen Kawas checks in at third with 9.4% own­er­ship.

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