July 27 (Reuters) - Late-stage drug developer Apnimed is

targeting a valuation of up to $608 million in its initial

public offering in the United States.

The sleep apnea pill developer is seeking to raise up to

$160 million by offering 10 million shares priced between $14

and $16 apiece, a regulatory filing showed on Monday.

Here are some more details:

* Founded in ​2017, Apnimed is a clinical-stage company

focused on developing oral medicines to treat obstructive sleep

apnea ​and related disorders.

* The company's lead drug ​candidate, AD109, is a once-daily

pill taken at bedtime.

* It intends to use the IPO proceeds for the regulatory

approval process, commercial launch, and to fund other research

and development activities for additional products it may choose

to develop in future.

* The company counts Japanese pharmaceutical company

Shionogi & Co ( SGIOF ) as a backer.

* BofA Securities, Evercore ISI, Cantor and LifeSci Capital

are the underwriters for ⁠the ​offering. The U.S. company

intends to list ​its shares on Nasdaq under the symbol "APMD."

* Biotech IPOs have rebounded after hitting their lowest

level in more than a decade in 2025 as fresh capital flows back

into the industry.

* Obstructive sleep apnea is a ​condition in which the

airway repeatedly collapses during sleep, lowering ​oxygen

levels and disrupting breathing.