Sionna and Odyssey Therapeutics Kick Off 2025 Biotech IPO Wave with SEC Filings

IPO Filings:
Sionna Therapeutics and Odyssey Therapeutics have filed paperwork with the Securities and Exchange Commission (SEC) to begin the initial public offering (IPO) process, marking the first Massachusetts biotech IPO hopefuls in 202524.

Company Backgrounds:

Odyssey Therapeutics:
Founded in 2021 by Gary Glick, a serial entrepreneur, Odyssey is a clinical-stage company working on treatments for autoimmune and inflammatory diseases. Its lead candidate, OD-07565, is entering Phase 2a trials for ulcerative colitis and Crohn's disease12.

Sionna Therapeutics:
Spun out of Sanofi in 2019, Sionna is focused on developing small molecules to treat cystic fibrosis by stabilizing the CFTR protein. The company is conducting Phase 1 trials of its NBD1 stabilizers, SION-719 and SION-45124.

Funding and Listings:

Odyssey Therapeutics:
Aims to raise $100 million in its IPO and will list under "ODTX" on Nasdaq. The company disclosed a $101 million Series C round at the end of 202312.

Sionna Therapeutics:
Plans to trade on Nasdaq as "SION" and previously raised a $182 million Series C financing led by Enavate Sciences24.

Market Context:
The filings come after the J.P. Morgan Healthcare Conference, which sets the tone for the biotech industry each year. Massachusetts saw six biotech IPOs in 2024, and industry leaders are optimistic about a more positive market in 202524.

Sources:

1. https://seekingalpha.com/article/4750953-odyssey-therapeutics-begins-ipo-rollout

2. https://www.bizjournals.com/boston/news/2025/01/21/two-massachusetts-biotechs-file-for-post-jpm-ipos.html

4. https://www.fiercebiotech.com/biotech/odyssey-and-sionna-join-band-biotechs-braving-ipo-waters-2025