AVROBIO, which is developing stem cell gene therapies to cure rare diseases, announced terms for its IPO on Monday.
The Cambridge, MA-based company plans to raise $75 million by offering 4.4 million shares at a price range of $16 to $18. Insiders intend to purchase $37 million worth of shares in the offering. At the midpoint of the proposed range, AVROBIO would command a fully diluted market value of $405 million.
AVROBIO was founded in 2015 and it plans to list on the Nasdaq under the symbol AVRO. Morgan Stanley, Cowen & Company and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of June 18, 2018.
