May. 9 at 3:52 PM
$ODTX (Odyssey Therapeutics)
Strong Nasdaq debut — opened ~
$20, +11% vs
$18 IPO price.
Deal came in solid:
$304M IPO (upsized)
15.5M shares priced at top range
Plus strategic placement from TPG Life Sciences
Pipeline focus is pure immunology/autoimmune:
OD-001 (RIPK2 inhibitor) for ulcerative colitis, including combo studies with Takeda Pharmaceutical Entyvio
SLC15A4 program targeting lupus / B-cell diseases
What stands out more is the leadership track record — prior exits tied to Eli Lilly and Company, Bristol Myers Squibb, Novartis, and prior biotech M&A success stories.
Classic biotech IPO structure: strong syndicate, heavy backing, long-dated clinical catalysts — not a quick flip, more of a pipeline story.
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