Zenas BioPharma has filed to raise $100 million in an IPO to advance its Phase 3 and Phase 2 trials for obexelimab, although the final figure may differ. The company is developing antibody-based treatments for inflammatory disorders, with strong backing from well-known life science venture capital firms and Bristol-Myers Squibb. Zenas' lead candidate, obexelimab, has shown promising Phase 2 results and is currently enrolling in a global Phase 3 trial for IgG4-related diseases.