Two biotechs file $100M IPOs

Two young drug developers moved toward the stock market on April 10, with Seaport Therapeutics and Hemab Therapeutics each filing for initial public offerings that could raise up to $100 million. (sec.gov) Seaport, based in Boston, said in its Securities and Exchange Commission filing that it plans to list on Nasdaq under the ticker SPTX. Renaissance Capital said the company is a Phase 2 biotech focused on oral drugs for depression, anxiety, and other brain-related disorders, and that it had filed confidentially on November 21, 2025. (sec.gov) Hemab, based in Cambridge, Massachusetts, plans to list on Nasdaq under the ticker COAG. Renaissance Capital said Hemab filed confidentially on February 27, 2026 and is developing antibody-based treatments for inherited bleeding and coagulation disorders. (renaissancecapital.com) The two filings put fresh biotech supply into a market that has been selective about new drug-company offerings. Both companies are still clinical-stage businesses, which means neither has an approved product on the market yet and both are raising money to fund trials rather than commercial sales. (sec.gov) Their pitches to investors are different. Seaport is selling the idea that it can turn known brain-drug mechanisms into easier-to-take oral medicines, while Hemab is pitching preventive shots for rare bleeding disorders that have few treatment options. (renaissancecapital.com) Seaport says its Glyph platform is designed to route oral medicines through the lymphatic system so less of the drug is broken down by the liver before it reaches the bloodstream. The company’s lead programs include GlyphAllo in Phase 2b for major depressive disorder and GlyphAgo in Phase 1 for generalized anxiety disorder, according to Renaissance Capital and Seaport’s website. (renaissancecapital.com) Hemab’s lead candidate, sutacimig, is aimed at Glanzmann thrombasthenia, a rare inherited disorder in which platelets cannot clump properly to stop bleeding. Renaissance Capital said the drug has finished Phase 2 and is being prepared for Phase 3, while Hemab said on March 5 that the Food and Drug Administration granted Breakthrough Therapy designation for that use. (renaissancecapital.com) Hemab is also advancing HMB-002 for Von Willebrand disease, another bleeding disorder tied to a missing or faulty blood-clotting protein. The company said in October 2025 that a $157 million Series C round would help move both programs toward later-stage studies. (hemab.com) Seaport came to market quickly after its 2024 launch. A Seaport-related exhibit previously filed with the Securities and Exchange Commission said the company had raised a total of $325 million since launch, and Seaport reported positive proof-of-concept topline results for GlyphAgo on April 2. (sec.gov) The filings do not mean either deal will price immediately, but they do start the public phase of the process. The next test is whether investors will fund late-stage rare-disease development at Hemab and earlier neuropsychiatry bets at Seaport on terms the companies will accept. (sec.gov)