02:32 AM EDT, 10/26/2026 (MT Newswires) -- HBM Healthcare Investments (HBMNE.SW) portfolio company Lycia Therapeutics raised $317.5 million under its initial public offering on Nasdaq Global Select Market, the healthcare investment group said Monday. HBM first invested $9 million in Lycia Therapeutics in June. It also participated in the IPO with an additional $4.5 million investment, bringing its total stake in the San Francisco, US-based clinical-stage biotechnology company to 2.2%. Lycia Therapeutics is developing novel therapeutics to degrade disease-causing extracellular proteins, initially targeting autoimmune, inflammatory, and allergic diseases.

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