Dyne Therapeutics, a preclinical biotech developing oligonucleotide therapies for rare muscular diseases, announced terms for its IPO on Thursday.
The Waltham, MA-based company plans to raise $175 million by offering 10.3 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Dyne Therapeutics would command a fully diluted market value of $782 million.
The company is using its proprietary FORCE platform to develop a pipeline of programs to address genetically-driven muscle diseases with high unmet need. This includes candidates for myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD), and facioscapulohumeral dystrophy (FSHD). Dyne expects to submit INDs for candidates in its DM1, DMD, and FSHD programs between the 4Q21 and 4Q22.
Dyne Therapeutics was founded in 2017 and plans to list on the Nasdaq under the symbol DYN. J.P. Morgan, Jefferies, Piper Sandler and Stifel are the joint bookrunners on the deal. It is expected to price during the week of September 14, 2020.
