The IPO Buzz: A Biotech & A Dental Care Start-Up On Tap Amid Anthropic Watch

Two healthcare IPOs –  Rezera (RZRA Proposed), a biotech targeting peripheral artery disease (PAD), and vVardis Holding AG (VVVV Proposed), a dental products start-up backed by PE player Apollo – are set for pricing this week – the week of Nov. 9, 2026 – to raise a total of $414.3 million. The Street, though, is  on watch for Anthropic (ANT Proposed). Some think the company, known for its AI assistant Claude, could disclose the terms for its huge IPO early this week – possibly as soon as tomorrow – Tuesday, Nov. 10, 2026. That timing – if it happens – would put Anthropic’s IPO on track for pricing next week.

Let’s take a quick look at this week’s healthcare IPOs.

Rezera Zeroes in On Peripheral Artery Disease (PAD)

Rezera (RZRA Proposed), a Boston biotech focused on peripheral artery disease (PAD), is offering 16.67 million shares at a price range of $11.00 to $13.00 to raise $200 million, if priced at the $12.00 mid-point of its range. At mid-point pricing, Rezera would have a market cap of $249.32 million.

Jefferies, TD Cowen and Cantor are the joint book-runners, with Wedbush PacGrow involved as lead manager.

Rezera is developing its lead product candidate, ruvonoflast, to treat peripheral artery disease (PAD) “as our lead indication,” the prospectus said. “PAD is a form of atherosclerotic cardiovascular disease, or ASCVD, in which narrowed or blocked small arteries reduce blood flow to the limbs, most commonly the legs.”

Ruvonoflast is a proprietary and wholly owned oral inhibitor of NLRP3, the upstream driver of sterile inflammation – which the prospectus said is inflammation that is caused by damage signals, such as cholesterol crystals or misfolded proteins, rather than infection.

Rezera plans to start a Phase 3 clinical trial of ruvonoflast in PAD in the first half of 2027. Results are expected in 2028. If the trial results support an NDA submission, that would put ruvonoflast on track for NDA approval in 2029, the prospectus said.

Rezera is not profitable: Net loss of $66.3 million on no product revenue for the 12 months that ended on June 30, 2026, according to financial statements in the prospectus.

vVardis Offers Drill-Free Cavity Treatment

vVardis Holding AG (VVVV Proposed), based in Zug, Switzerland, is a dental products start-up backed by Apollo, the PE player.

 vVardis is offering 9.52 million shares at a price range of $21.00 to $24.00 to raise $214.29 million, if priced at the $22.50 mid-point of its range. At pricing, vVardis would have a market cap of $4.1 billion.

Goldman Sachs and J.P. Morgan are the joint book-running managers. William Blair, UBS Investment Bank and Deutsche Bank Securities are book-runners.

Apollo, a major private equity company, became a minority investor in vVardis in late April 2026.

vVardis Holding AG was founded in 2020 in Zug, Switzerland, by Dr. Haley Abivardi and Dr. Goly Abivardi, two internationally renowned dentists and serial entrepreneurs who are also sisters.

vVardis pioneered the Curodont peptide platform that treats early-stage cavities without drilling, according to the prospectus. The treatment is applied to a patient’s teeth in five minutes or less during a visit to the dental office, the prospectus said.

The proprietary Curodont technology uses the patient’s own saliva to help fill the cavity and repair the tooth, according to the prospectus.

Curodont Repair Fluoride Plus is sold as an OTC drug only through Henry Schein in the United States – and it generates most of the company’s revenue, the prospectus said. This product line was launched in the U.S. in January 2024. Curodont products have treated over 3.5 million teeth as of June 30, 2025, and they have been sold to over 20,000 of the approximately 110,000 general dental practices in the U.S.

Curodont Repair, a fluoride-free version, is sold as a medical device in the UK and some countries in Europe.

vVardis is not profitable, according to financial statements in the prospectus: Net loss of $52.2 million on revenue of $49.68 million for the 12 months that ended on June 30, 2026, according to financial statements in the prospectus.

Stay tuned.

(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com  website.)

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Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.

Source: https://www.iposcoop.com/the-ipo-buzz-a-biotech-a-dental-care-start-up-on-tap-amid-anthropic-watch/