City Therapeutics Raises $200M in Upsized IPO

City Therapeutics Inc., a biotech firm specializing in RNAi-based therapies, has successfully raised $200 million through its initial public offering. The offering was priced at $18 per share, with 11.1 million shares sold, according to a statement from the company dated October 15. The company had initially planned to offer 9.72 million shares at a price range of $17 to $19. The participation of major investors such as Arch Venture Partners and Fidelity Management & Research highlights confidence in the company’s potential. This funding will support the development of its pipeline of RNAi-based drugs, which are designed to target genetic disorders. The successful IPO reflects growing interest in biotech innovations, particularly in the RNA interference space.