AI pharmaceutical company Generate Biomedicines(GENB.US) IPO priced at $16 per share, listing on Nasdaq tonight

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Generate Biomedicines (GENB.US), a company focused on AI drug development in immunology and oncology, officially announced its IPO offering price in the U.S. stock market. This biotech company, currently in Phase 3 clinical trials, issued 25 million shares at $16 each (midpoint of the $15 to $17 price range), successfully raising $400 million.

According to the company, its AI-driven Generate platform has built a tightly integrated “Design-Build-Test-Learn” closed-loop system aimed at generating proprietary data with therapeutic value and developing differentiated molecular solutions.

The company claims that its technological potential has been preliminarily validated, with three protein drugs developed through computational engineering entering human clinical trials. The fastest progressing, GB-0895, is an investigational long-acting monoclonal antibody targeting thymic stromal lymphopoietin, currently recruiting patients for a Phase 3 registration trial in severe asthma.

Generate Biomedicines plans to list on NASDAQ tonight under the ticker “GENB.” Goldman Sachs, Morgan Stanley, Piper Sandler, Guggenheim Securities, and Cantor Fitzgerald are joint bookrunners for this offering.

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