By Arasu Kannagi Basil and Prakhar Srivastava
April 17 (Reuters) – Alamar Biosciences fetched a $1.53 billion valuation after the protein biomarker detection platform’s shares jumped 33% in their Nasdaq debut on Friday, as de-escalating geopolitical tensions revive the IPO market.
Although market conditions tempered the execution for IPOs in March, progress in the U.S.-Iran negotiations has injected new vigor into the new listings market and enticed more issuers to move ahead with their listing plans.
Bankers say the pipeline is full and are optimistic that IPO activity will accelerate again in the coming weeks as stock markets scale new record highs.
Fremont, California-based Alamar’s stock opened at $22.60 apiece, compared with the offer price of $17. The firm sold about 11.3 million shares in an upsized offering at the top end of its marketed range of $15 and $17, raising $191.3 million.
Founded in 2018, Alamar develops instruments to detect low-level protein biomarkers in blood, enabling disease research and diagnostics.
“Proteomics has a huge potential to improve our understanding of human health the way genomics did. It provides deeper biological insight the way DNA cannot do, leading to improvement of detection and treatment of disease,” Alamar CEO Yuling Luo said in an interview with Reuters.
Proteomics is the measurement of large sets of different proteins produced in a biological system.
The firm has grown swiftly in recent years, with revenue roughly tripling to over $74 million in 2025 from a year earlier.
Alamar currently focuses on key biomarkers in neurology and immunology, with plans afoot to expand in other areas.
“This is a time to expand rapidly, and that’s why we want to do this round of IPO to raise additional fund to expand our reach. We can expand to build additional tasks that cover a variety of different disease,” Luo said.
“We want to expand to cancer, cardiology, some of the major disease really impacting health care.”
(Reporting by Arasu Kannagi Basil and Prakhar Srivastava in Bengaluru; Editing by Shilpi Majumdar)
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