Jan. 12 Quick Takes: Alto Neuroscience files for IPO
Plus: Company-creating research institute Arena BioWorks launches in Kendall Square, and an update from Ji Xing
The IPO queue swelled again late Friday with the addition of Alto Neuroscience Inc., a start-up that takes a computational approach to biomarker-driven patient selection with the aim of improving success rates in neuropsychiatry. During 2022, Alto delivered three positive Phase IIa readouts comparing outcomes in patients with a biomarker vs. patients without the biomarker. Four more Phase II readouts are due within two years.
Top shareholders include Alpha Wave with 17.8% and Apeiron Investment Group, the family office of entrepreneur Christian Angermayer, with 15.2%. Underwriters are Jefferies, TD Cowen, Stifel, William Blair and Baird. Investors have expressed hope that the appetite for new listings will increase in 2024 after two quiet years; the current NASDAQ queue includes CG Oncology Inc., ArriVent Biopharma Inc. and Metagenomi Inc...