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July 29, 2021

New Haven-based Rallybio set to launch $80.6M IPO

PHOTO | Steve Laschever Rallybio’s co-founders (from left to right) are: Dr. Stephen Uden, Jeffrey Fryer and Martin Mackay.
By Zachary Vasile

New Haven-based Rallybio Corp. is going public today, with shares expected to begin trading on the Nasdaq Global Market, according to company officials.

The clinical-stage biotech firm — which was formed in 2018 by former Alexion executives and got its start in Farmington — plans to put up 6.2 million shares of common stock at $13 per share in its initial public offering, which will close on Monday. The company expects to raise about $80.6 million from the debut.

Rallybio’s shares will trade under the ticker symbol “RLYB.”

Much like Alexion, Rallybio has focused its research efforts on a relatively small number of rare and severe disorders. Its leading drug candidate is the novel monoclonal antibody RLYB212, which is designed to prevent a life-threatening condition called fetal and neonatal alloimmune thrombocytopenia, which can cause uncontrolled bleeding in otherwise healthy fetuses and newborns who have a platelet antibody incompatible with their mother’s.

The company also has programs dedicated to complement system dysregulation and metabolic disorders.

Since its inception, Rallybio has raised $182 million through Series A and Series B investment rounds.

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