South San Francisco-based Lycia Therapeutics, which develops extracellular protein degraders for autoimmune and allergic diseases, has submitted an amended draft registration statement to the SEC for a proposed IPO. The document does not disclose offering terms or a proposed exchange or ticker.
Lycia’s LYTAC platform builds on research by Nobel laureate Carolyn Bertozzi and her Stanford University team. Its cataLYTAC degraders are designed to cycle repeatedly, allowing each degrader molecule to eliminate multiple copies of a disease-causing protein.
Lead candidate LCA-0061, an antibody–small molecule conjugate targeting IgE, is being developed for food allergy and other allergic diseases. According to the filing, a single 70 mg subcutaneous dose produced a mean maximum IgE reduction of 96% in the first Phase I cohort of healthy atopic participants. Most participants maintained reductions greater than 95% at day 28, with no safety signals or dose-limiting toxicities observed. These early biomarker results do not yet establish clinical benefit.
A second IgE-targeting cataLYTAC degrader, the bispecific antibody LCA-0062, is in IND-enabling studies. LCA-0321, a classic LYTAC degrader targeting thyroid-stimulating hormone receptor autoantibodies, is in Phase I for Graves’ disease. IPO proceeds would support these three programmes, broader pipeline research and general corporate needs.