Generate Biomedicines plans up to $425 million U.S. IPO

Investing.com -- Generate Biomedicines has filed for an initial public offering on Monday, aiming to raise as much as $425 million in the United States.

The biotechnology company plans to offer 25 million shares at a price range of $15 to $17 per share. The company intends to list on Nasdaq under ticker GENB.

Goldman Sachs, Morgan Stanley, Piper Sandler, Guggenheim Securities, and Cantor will serve as underwriters for the offering.

Generate Biomedicines is a drug developer that uses machine learning to design and optimize proteins for therapeutic applications. The company focuses on immunology, oncology, and infectious diseases.

The Cambridge, Massachusetts-based company was founded in 2018.

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