Generate Biomedicines, a Phase 3 biotech using AI to develop therapies for immunology and oncology, raised $400 million by offering 25 million shares at $16, the midpoint of the range of $15 to $17.
Generate Biomedicines states that its AI-enabled Generate Platform is a tight and fully-integrated loop (design–build–test–learn) aimed to create proprietary, therapeutically relevant data and differentiated molecular solutions. The company claims that its therapeutic potential has been demonstrated by successfully progressing three computationally engineered proteins into human clinical testing, the most advanced of which is GB-0895, an investigational long-acting anti-thymic stromal lymphopoietin (“TSLP”) monoclonal antibody, which is enrolling patients in pivotal Phase 3 clinical trials for severe asthma.
Generate Biomedicines plans to list on the Nasdaq under the symbol GENB. Goldman Sachs, Morgan Stanley, Piper Sandler, Guggenheim Securities, and Cantor Fitzgerald acted as joint bookrunners on the deal.
