Intellia Therapeutics, a preclinical biotech developing gene editing therapies using CRISPR/Cas9 technology, announced terms for its IPO on Wednesday.
The Cambridge , MA-based company plans to raise $85 million by offering 5 million shares at a price range of $16 to $18. Insiders intend to purchase $30 million worth of shares in the offering. At the midpoint of the proposed range, Intellia Therapeutics would command a fully diluted market value of $610 million.
Concurrent with the IPO, Intellia will raise an additional $55 million in a separate private placement from collaboration partners Regeneron Pharmaceuticals ($50mm) and Novartis ($5mm).
Intellia Therapeutics was founded in 2014. It plans to list on the Nasdaq under the symbol NTLA. Credit Suisse, Jefferies and Leerink Partners are the joint bookrunners on the deal. It is expected to price during the week of May 2, 2016.
