Salspera disclosed plans for a $91 million initial public offering to bankroll Phase III trials of its lead live‑biotherapeutic candidate, saltikva, an engineered Salmonella strain expressing interleukin‑2. The company cited prior Phase II signals in metastatic pancreatic cancer and holds orphan and fast‑track designations for select indications. Salspera’s filing outlines a small team and a clinical focus on hard‑to‑treat solid tumors where tumor‑resident immune activation could provide benefit. The IPO will finance registrational work but leaves execution risk tied to scaling live bacterial manufacturing, regulatory acceptance of engineered bacterial therapies, and competitive immunotherapy developments.