Reuters: IPOX® Associate Lukas Muehlbauer Comments on Odyssey Therapeutics’ Nasdaq Debut

Reuters reported that Odyssey Therapeutics secured a valuation of nearly $900 million after its shares rose 11.1% in their Nasdaq debut. The Boston-based biotech, which focuses on autoimmune and inflammatory disease treatments, raised $279 million in an upsized U.S. IPO after pricing shares at the top end of its marketed range.

The article notes that Odyssey’s debut adds to renewed momentum in the biotech IPO market, following strong recent listings from Kailera Therapeutics and Alamar Biosciences.

IPOX® Associate Lukas Muehlbauer commented that the trend suggests the “biotech IPO window is open again after a lackluster 2025,” with investor risk appetite beginning to return.

Muehlbauer also discussed the market relevance of Odyssey founder Dr. Gary D. Glick’s prior biotech track record, including Scorpion Therapeutics’ acquisition by Eli Lilly in 2025 for up to $2.5 billion.

“In a biotech market where M&A remains an important exit route for recently listed companies, investors may view Glick’s history as adding to Odyssey’s appeal,” said Muehlbauer.

Read the full article by Prakhar Srivastava on Reuters: Biotech firm Odyssey hits nearly $900 million valuation as shares rise in Nasdaq debut