Kailera Therapeutics’ upsized IPO raised $625 million to fund global clinical trials across its pipeline of injectable and oral obesity drug candidates, extending investor focus on anti-obesity modalities. Separately, proteomics company Alamar Biosciences upsized and priced its IPO, with proceeds earmarked for ongoing development of a clinical version of its Argo HT instrument and plans for FDA 510(k) clearance. Together, the financings underscore continued appetite for platforms and therapeutics aimed at measurable clinical utility, from obesity treatment trials to assay instrumentation commercialization.