Generation Bio, a preclinical biotech developing gene therapies for rare diseases, raised the proposed deal size for its upcoming IPO on Thursday.
The Cambridge, MA-based company now plans to raise $185 million by offering 10 million shares at a price range of $18 to $19. The company had previously filed to offer 7.4 million shares at a range of $16 to $18. At the midpoint of the revised range, Generation Bio will raise 47% more in proceeds than previously anticipated to command a fully diluted market value of $881 million.
Generation Bio was founded in 2016 and plans to list on the Nasdaq under the symbol GBIO. J.P. Morgan, Jefferies, and Cowen are the joint bookrunners on the deal. It is expected to price during the week of June 8, 2020.
