Former BioNTech executive leads Bambusa Therapeutics (BBTX.US) in sprint to Nasdaq, "boosting" eczema drug trials

According to information from Zhihui Financial APP, Bambusa Therapeutics Inc. (BBTX.US) has filed for an initial public offering (IPO) to raise funds for clinical trials of drugs for the treatment of eczema and other inflammatory diseases.

According to documents filed with the U.S. Securities and Exchange Commission on Friday, this Boston-based company is developing long-acting bispecific antibodies to address unmet needs in the global immunology and inflammation market. This market exceeds $150 billion annually and covers skin, respiratory, gastrointestinal, and autoimmune diseases.

Bambusa was founded in 2024 and obtained its main candidate drugs through a previous acquisition of assets from a division of BioNTech SE (BNTX.US): the first for atopic dermatitis (commonly known as eczema), and the second for treating other inflammatory diseases including those affecting the respiratory system and allergic disorders.

The company’s largest investors include Salvia Investment, RA Capital Management, entities associated with German billionaire Thomas Strüngmann, San Francisco-based healthcare investment firm BVF Partners, Dawn Biopharma controlled by KKR & Co., and Hong Kong-based INCE Capital. The documents show that co-founder Shanshan Xu, formerly an executive at BioNTech, beneficially owns 21.5% of Bambusa.

According to the statement at the time, Bambusa completed a round of financing in November last year, with existing investors including RA Capital, Janus Henderson Investors, and Dawn Biopharma participating. The documents show that this financing raised $33.1 million, a significant increase in valuation compared to the earlier round that year at $89 million. As of the end of June, Bambusa held $71.5 million in cash and equivalents.

The documents show that in the six months ended June 30, 2026, the company had no revenue and a net loss of $22.4 million; there was also no revenue in the same period last year, with a net loss of $13 million.

This IPO is being led by Bank of America, Evercore Inc., UBS Group, and Cantor Fitzgerald. Bambusa expects its shares to trade on the Nasdaq Global Select Market under the ticker BBTX.