Rubius Therapeutics, a preclinical biotech developing novel therapies based on red blood cells, announced terms for its IPO on Monday.
The Cambridge, MA-based company plans to raise $200 million by offering 9.53 million shares at a price range of $20 to $22. At the midpoint of the proposed range, Rubius Therapeutics would command a fully diluted market value of $1.8 billion.
Rubius Therapeutics was founded in 2013 and plans to list on the Nasdaq under the symbol RUBY. J.P. Morgan, Morgan Stanley, Jefferies and Leerink Partners are the joint bookrunners on the deal. It is expected to price during the week of July 16, 2018.
