Clinical-stage biotechnology company Hemab Therapeutics Holdings Inc. (COAG.US) is aiming to raise up to $212 million through an initial public offering in the United States. According to a prospectus filed with the SEC on Monday, the company plans to offer 11.8 million shares priced between $16 and $18 per share. At the upper end of the price range, the Cambridge, Massachusetts-based firm would have a market valuation of approximately $705.7 million, based on the outstanding shares listed in the filing.

Hemab is developing treatments for bleeding disorders, including indications such as Glanzmann thrombasthenia and von Willebrand disease. In March, the company announced that its therapy for Glanzmann thrombasthenia received Breakthrough Therapy designation from the U.S. Food and Drug Administration. In preparation for the listing, the company previously operated under the name Hemab Aps under Danish law before reorganizing and renaming.

The IPO comes amid strong investor interest in weight-loss drug developers, highlighted by Kailera Therapeutics Inc.'s recent $719 million offering earlier this month—the largest U.S. biotech IPO since 2021. Market data shows that healthcare sector IPOs on U.S. exchanges have raised $3.3 billion year-to-date, significantly higher than the $1.4 billion raised during the same period last year.

Prior to the offering, entities affiliated with RA Capital Management and the Novo Nordisk Foundation hold 18% and 15% stakes in Hemab respectively. The company reported a net loss of $64 million for 2025, compared to a $49 million loss in the previous year. As of December 31, 2025, Hemab held $185 million in cash and cash equivalents.

Goldman Sachs Group, Jefferies Financial Group, and Evercore Inc. are serving as lead underwriters for the IPO. The company plans to list on the Nasdaq Global Select Market under the ticker symbol "COAG."