Bambusa Therapeutics Files for IPO to Fund Eczema Drug Trials

Bambusa Therapeutics Inc. filed for a initial public offering to help fund trials of its drugs to treat eczema and other inflammation disorders.

The Boston-based company is working on long-acting bispecific antibodies to treat unmet needs in the more than $150 billion-a-year global immunology and inflammation market, encompassing skin, respiratory, gastroenterology and autoimmune diseases, according to a filing Friday with the US Securities and Exchange Commission.

Started in 2024, Bambusa secured its lead drug candidates through its earlier acquisition of assets from a unit of BioNTech SE, the first to treat atopic dermatitis, commonly known as eczema, and the second to treat other inflammatory disorders including respiratory and allergic diseases.

The company’s biggest investors include Salvia Investment, RA Capital Management, entities affiliated with German billionaire Thomas Strüngmann, San Francisco-based healthcare investor BVF Partners, KKR & Co.-controlled Dawn Biopharma and Hong Kong-based INCE Capital. Co-founder Shanshan Xu, a former BioNTech executive, beneficially owns 21.5% of Bambusa, the filing shows.

Bambusa completed a funding round in November with participation from existing investors including RA Capital, Janus Henderson Investors and Dawn Biopharma, according to a statement at the time. The financing raised $33.1 million at a substantial valuation step-up from an $89 million round earlier that year, the filing shows. At the end of June, Bambusa had $71.5 million of cash and equivalents.

The company had a net loss of $22.4 million on no revenue for the six months ended June 30, 2026, versus a net loss of $13.0 million on no revenue for the corresponding period a year earlier, the filing shows.

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

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