Three startups target up to $400 million as biotech IPOs gain traction

(Reuters) -Three healthcare startups are seeking combined proceeds of up to $400 million in their initial public offerings, days after strong market debuts from their peers ignited momentum.

The companies will add to a host of listings from the sector as a long-awaited policy-easing cycle begins. Startups are also keen to capitalize on the window before the U.S. presidential election next month, which could fuel uncertainty and keep a lid on activity until the end of the year.

Upstream Bio, which is developing treatments for some respiratory disorders, is targeting up to $212.5 million. Kaiser Permanente-backed CAMP4 Therapeutics, working on therapies for a range of genetic diseases, is eyeing $80 million.

Meanwhile, CeriBell, which makes monitors to detect neurological conditions, is seeking up to $107.2 million. CeriBell is backed by TPG's The Rise Fund.



All of them will list on the Nasdaq. Upstream will trade under the symbol "UPB", CAMP4 under "CAMP" and CeriBell will use the "CBLL" ticker.

September was the busiest month for healthcare IPOs this year, Dealogic data showed. Strong debuts by companies like BioAge Labs and Bicara Therapeutics have also encouraged listings among other IPO-hopefuls.

Source: Investing.com