Drug developer ADARx seeks $1.74 billion valuation in US IPO

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    "url": "https://sg.finance.yahoo.com/news/drug-developer-adarx-seeks-1-170042280.html",
    "title": "Drug developer ADARx seeks $1.74 billion valuation in US IPO - Yahoo Finance Singapore",
    "excerpt": "By Pragyan Kalita Sept 21 (Reuters) - ADARx Pharmaceuticals, which develops RNA-based drugs for rare diseases, said on Monday that it was targeting a valuation of ‌up to $1.74 billion, as it joins a wave of biotech companies ‌planning for a US IPO. Drugmaker AbbVie has agreed to invest up to $100 million in a concurrent ​private placement, which would give it a roughly 4.9% stake post-IPO, ADARx said. AbbVie had paid the company $335 million in May 2025 for a research collaboration. The investment provides external validation of ADARx's technology, said IPOX Research Associate Lukas Muehlbauer. ADARx's experimental drugs ‌target diseases related to immunity, ⁠kidney, cardiovascular and neurological systems. Three of its programs are in clinical testing and two in advanced preclinical development. The company's ⁠most advanced candidate, onvuzosiran, is in late-stage testing for hereditary angioedema, a rare genetic disorder that causes sudden swelling attacks. San Diego-based ADARx, founded in 2019, is aiming to ​raise up ​to $371.9 million by offering 21.9 million shares ​priced between $15 and $17. BIOTECH MOMENTUM CONTINUES The ‌IPO comes even as a sharp rise in Treasury yields and higher interest rates have nudged some prospective issuers to the sidelines, although biotech offerings have broadly rebounded from year-ago levels. Drug developers Retension Pharmaceuticals and...",
    "summary": "AbbVie has agreed to invest up to $100 million in ADARx Pharmaceuticals through a concurrent private placement alongside its IPO.",
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    "published_at": "2026-09-21T17:00:42Z",
    "article_sentence": "Drugmaker AbbVie has agreed to invest up to $100 million in a concurrent ​private placement, which would give it a roughly 4.9% stake post-IPO, ADARx said.",
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