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Heart disease biotech Tenaya Therapeutics prices upsized IPO at $15 midpoint

July 30, 2021

Tenaya Therapeutics, a preclinical biotech developing multiple therapies to treat heart disease, raised $180 million by offering 12 million shares at $15, within the range of $14 to $16. The company offered 2 million more shares than anticipated.

The company's multi-modality drug discovery platform targets both genetic and non-genetic forms of heart disease, and consists of a gene therapy program using AAVs, a cellular regeneration program which also uses viral vectors to deliver gene combinations to regenerate cardiomyocytes in the heart, and a precision medicine program using human induced pluripotent stem cell-derived cardiomyocytes. The company plans to submit INDs for its gene therapy and precision medicine platforms in 2022.

Tenaya Therapeutics plans to list on the Nasdaq under the symbol TNYA. Morgan Stanley, Cowen, and Piper Sandler acted as joint bookrunners on the deal.