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Gene editing biotech Metagenomi prices IPO at $15, the low end of the range

February 9, 2024

Metagenomi, a preclinical biotech using metagenomics-derived genome editing, raised $94 million by offering 6.3 million shares at $15, the low end of the range of $15 to $17.

Metagenomi is a precision genetic medicines company developing curative therapeutics using its proprietary, comprehensive metagenomics-derived genome editing toolbox. Its toolbox includes programmable nucleases, base editors, and RNA and DNA-mediated integration systems (including prime editing systems and CRISPR-associated transposases). To date, Metagenomi has analyzed over 460 trillion base pairs, predicted over 7.4 billion proteins, including over 322 million CRISPR-associated proteins and over 1.75 million CRISPRs. The company is taking a stepwise approach deploying its genome editing toolbox to develop potentially curative therapies, targeting indications across liver, neuromuscular, and other organ areas. All of its product candidates are preclinical.

Metagenomi plans to list on the Nasdaq under the symbol MGX. J.P. Morgan, Jefferies, TD Cowen, Wells Fargo Securities, and BMO Capital Markets acted as joint bookrunners on the deal.