The Novo-backed biotechnology company has filed for an $86.3m initial public offering, after raising $89m in funding since 2005.

AnaptysBio, a US-based biotechnology company backed by pharmaceutical firm Novo, filed for an initial public offering on Nasdaq on Wednesday that could raise up to $86.3m.

Founded in 2005, AnaptysBio is developing antibodies to be used in inflammation and immuno-oncology treatments. Its two lead candidates are ANB019, being developed to treat rare inflammatory diseases, and ANB020, which will combat adult asthma and severe adult peanut allergy.

The IPO proceeds are expected to fund the advancement of ANB019 and ANB020…