Alamar Biosciences reached a $1.53 billion valuation after its protein biomarker detection platform saw shares surge 33% in its Nasdaq debut on Friday, as easing geopolitical tensions helped revive the IPO market.
While market conditions slowed IPO activity in March, progress in U.S.-Iran negotiations has renewed momentum in new listings and encouraged more companies to proceed with their public offering plans.
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Bankers say the IPO pipeline remains strong and expect activity to pick up in the coming weeks as stock markets continue to reach new record highs.
Fremont, California-based Alamar’s shares opened at $22.60 each, above the offer price of $17. The company sold around 11.3 million shares in an upsized offering at the top end of its $15–$17 range, raising $191.3 million.
Founded in 2018, Alamar develops instruments designed to detect low-level protein biomarkers in blood, supporting disease research and diagnostic advancements.
“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,”
Proteomics involves measuring large sets of proteins produced within a biological system.
The company has expanded rapidly in recent years, with revenue roughly tripling to more than $74 million in 2025 compared to the previous year.
Alamar currently concentrates on key biomarkers in neurology and immunology, with plans to broaden its focus into additional 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.”
