AI-Driven Biotech Generate Biomedicines Prices $400M IPO at $16 per Share Ahead of Nasdaq Debut

SmartCom Finance APP reported that Generate Biomedicines (GENB.US), an AI-driven drug discovery company focused on immunology and oncology, has officially announced its U.S. IPO price. The biotech company, which is in the Phase III clinical stage, issued 25 million shares at $16 per share (the midpoint of the $15 to $17 pricing 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 the potential of its technology has been preliminarily validated, with three protein drugs developed through computational engineering technology now in human clinical trials. The most advanced among them, GB-0895, is an investigational long-acting anti-thymic stromal lymphopoietin monoclonal antibody, currently recruiting patients for a pivotal Phase III clinical trial for severe asthma indications.

Generate Biomedicines Plans to List on NASDAQ Tonight with Stock Code "GENB". Goldman Sachs, Morgan Stanley, Piper Sandler, Guggenheim Securities, and Cantor Fitzgerald are serving as the joint bookrunners for this offering.