Microbiome biotech Seres Therapeutics sets terms for $100 million IPO

Seres Therapeutics, which is developing therapies that replace beneficial bacteria to treat infections, announced terms for its IPO on Tuesday.

The Cambridge, MA-based company plans to raise $100 million by offering 6.3 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Seres Therapeutics would command a fully diluted market value of $637 million.

Seres Therapeutics, which was founded in 2010, plans to list on the NASDAQ under the symbol MCRB. Goldman Sachs and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of June 22, 2015.