July 27 (Reuters) – Late-stage drug developer Apnimed is targeting a valuation of up to $608 million in its initial public offering in the United States.
The sleep apnea pill developer is seeking to raise up to $160 million by offering 10 million shares priced between $14 and $16 apiece, a regulatory filing showed on Monday.
Here are some more details:
• Founded in 2017, Apnimed is a clinical-stage company focused on developing oral medicines to treat obstructive sleep apnea and related disorders.
• The company’s lead drug candidate, AD109, is a once-daily pill taken at bedtime.
• It intends to use the IPO proceeds for the regulatory approval process, commercial launch, and to fund other research and development activities for additional products it may choose to develop in future.
• The company counts Japanese pharmaceutical company Shionogi & Co as a backer.
• BofA Securities, Evercore ISI, Cantor and LifeSci Capital are the underwriters for the offering. The U.S. company intends to list its shares on Nasdaq under the symbol “APMD.”
• Biotech IPOs have rebounded after hitting their lowest level in more than a decade in 2025 as fresh capital flows back into the industry.
• Obstructive sleep apnea is a condition in which the airway repeatedly collapses during sleep, lowering oxygen levels and disrupting breathing.
(Reporting by Pragyan Kalita in Bengaluru; Editing by Harikrishnan Nair)
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