Biotechnology company Hemab (COAG.US), which is funded by the Novo Nordisk A/S Sponsored ADR Class B foundation, is planning to launch an IPO in the United States with a maximum fundraising goal of $212 million.

Clinical stage biotechnology company Hemab Therapeutics Holdings Inc. (COAG.US) is seeking to raise up to $212 million in its initial public offering (IPO) in the United States. According to the filing submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, Hemab plans to issue 11.8 million shares at a price range of $16 to $18 per share. At the top end of the offering price, the company, headquartered in Cambridge, Massachusetts, will have a market value of approximately $705.7 million (based on the number of shares listed in the prospectus). The filing indicates that Hemab is developing therapies for coagulation disorders, including indications such as Glanzmann thrombasthenia and von Willebrand's disease. The company announced in March of this year that its therapy for treating Glanzmann thrombasthenia has received breakthrough therapy designation from the U.S. Food and Drug Administration (FDA). In preparation for this IPO, Hemab had previously operated under the name Hemab Aps under Danish law before rebranding. The background to this biotechnology company IPO is the strong response from investors to weight loss drug developer Kailera Therapeutics Inc., which went public earlier this month, raising $719 million, setting a record for the largest IPO in the industry in the United States in 2021. According to market data, healthcare IPOs on U.S. exchanges have raised a total of $3.3 billion so far this year, far exceeding the $1.4 billion raised in the same period in 2025. The filing also shows that prior to the offering, affiliated entities of RA Capital Management and Novo Nordisk A/S Sponsored ADR Class B Foundation each held 18% and 15% of Hemab's shares, respectively. In 2025, Hemab reported a net loss of $64 million, compared to a net loss of $49 million in the same period the previous year. As of December 31, 2025, the company held a total of $185 million in cash and cash equivalents. The lead underwriters for this IPO are Goldman Sachs Group, Inc., Jefferies Financial Group Inc., and Evercore Inc. The company plans to list on the Nasdaq Global Select Market under the ticker symbol "COAG."