Inozyme Pharma, a preclinical biotech developing therapies for diseases of abnormal mineralization, raised the proposed deal size for its upcoming IPO on Thursday.
The Boston, MA-based company now plans to raise $104 million by offering 6.5 million shares at $16. The company had previously filed to offer 5 million shares at a range of $14 to $16. At the proposed price, Inozyme Pharma will raise 39% more in proceeds than previously anticipated to command a fully diluted market cap of $378 million.
Inozyme Pharma was founded in 2015 and plans to list on the Nasdaq under the symbol INZY. BofA Securities, Cowen and Piper Sandler are the joint bookrunners on the deal. It is expected to price during the week of July 20, 2020.
