Metagenomi, a preclinical biotech developing therapies using metagenomics-derived genome editing, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Metagenomi is a precision genetic medicines company developing curative therapeutics using its proprietary, comprehensive metagenomics-derived genome editing toolbox. Its toolbox includes programmable nucleases, base editors, and RNA and DNA-mediated integration systems (including prime editing systems and CRISPR-associated transposases). To date, Metagenomi has analyzed over 460 trillion base pairs, predicted over 7.4 billion proteins, including over 322 million CRISPR-associated proteins and over 1.75 million CRISPRs. The company is taking a stepwise approach deploying its genome editing toolbox to develop potentially curative therapies, targeting indications across liver, neuromuscular, and other organ areas. All of its product candidates are preclinical.
The Emeryville, CA-based company was founded in 2016 and booked $38 million in collaboration revenue for the 12 months ended September 30, 2023. It plans to list on the Nasdaq under the symbol MGX. J.P. Morgan, Jefferies, TD Cowen, Wells Fargo Securities, and BMO Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
