Lycia Therapeutics filed for an initial public offering in a bid to fund clinical development for disease-modifying therapies targeting peanut and tree nut allergies. The California-based biotech said its registration statement with the SEC seeks to raise $100 million to advance therapies aimed at changing immune responses rather than providing temporary desensitization. Its lead program, LCA-0061, uses an antibody-small molecule conjugate approach built on the company’s Lysosomal Targeting Chimera (LYTAC) platform to target IgE. Lycia positioned the strategy as potentially closer to curative outcomes for patients who currently rely on strict avoidance and emergency epinephrine, alongside oral immunotherapy. The filing also reflects ongoing capital interest in food allergy therapeutics as patient prevalence and market activity keep expanding.