Decibel Therapeutics, a Phase 1 biotech developing treatments for hearing and balance disorders, announced terms for its IPO on Monday.
The Boston, MA-based company plans to raise $100 million by offering 5.9 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Decibel Therapeutics would command a fully diluted market value of $427 million.
Decibel Therapeutics' proprietary platform integrates single-cell genomics and bioinformatics analyses, using precision gene therapy technologies to advance its pipeline of preclinical gene therapy programs that are designed to selectively replace genes for the treatment of congenital, monogenic hearing loss. Its lead gene therapy product candidate, DB-OTO, is being developed to provide hearing to individuals born with profound hearing loss due to mutation of the otoferlin gene. The company is also advancing DB-ATO, a gene therapy program designed to restore balance in patients with bilateral vestibulopathy, and DB-020, which is for the prevention of cisplatin-induced hearing loss and is currently being evaluated in a Phase 1b trial.
Decibel Therapeutics was founded in 2013 and plans to list on the Nasdaq under the symbol DBTX. Citi, SVB Leerink, BMO Capital Markets and Barclays are the joint bookrunners on the deal. It is expected to price during the week of February 8, 2021.
