Life Science Firms Seek $693 Million in US IPOs as Pace Picks Up

Two health-care companies began formally marketing US initial public offerings raising as much as $693 million in aggregate, as listing activity in the once-prolific sector increases.

Obesity biotech Kailera Therapeutics Inc. revealed it is seeking to raise as much as $533 million from an IPO to help fund the development of its pipeline of obesity drugs.