Editas Medicine, which is developing gene editing therapies based on CRISPR technology, announced terms for its IPO on Monday.
The Cambridge, MA-based company plans to raise $100 million by offering 5.9 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Editas Medicine would command a fully diluted market value of $625 million.
Editas Medicine was founded in 2013 and booked $1 million in sales for the 12 months ended September 30, 2015. It plans to list on the Nasdaq under the symbol EDIT. Morgan Stanley, J.P. Morgan and Cowen & Company are the joint bookrunners on the deal. It is expected to price during the week of February 1, 2016.
