Gene editing biotech Metagenomi pulls off nearly $94M IPO

BioPharma Dive February 8, 2024
Gwendolyn Wu

The fundraise is only the fourth initial stock offering of significant size for a preclinical biotech since October 2022, according to BioPharma Dive data.

Dive Brief:

• Metagenomi, a gene editing startup spun out of research at the University of California, Berkeley, brought in about $93.8 million in the biotechnology sector’s sixth initial public offering of the year.
• The company on Thursday sold 6.25 million shares at $15 apiece, toward the low end of a range it set earlier this week. The offering will fund the development of genetic medicines for a variety of conditions, including hemophilia and transthyretin amyloidosis.
• The IPO makes Metagenomi one of the rare biotech companies to go public recently without a drug already in clinical...

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