Gene Therapy Developer Generation Bio Raises $196 Million in Public Offering

Rare Daily Staff

Gene therapy developer Generation Bio raised $196 million through the pricing of a public offering of 8 million shares of its common stock at $24.50 per share.

In addition, the company has granted the underwriters a 30-day option to purchase up to 1.2 million additional shares of common stock at the public offering price, less the underwriting discount and commissions.

Generation Bio is developing a non-viral gene therapy platform that overcomes the immunogenicity associated with viral-vector gene therapies, which has historically limited the number of patients that can be treated and prevented re-dosing. Its preclinical pipeline targets genetic diseases of the retina, central nervous system, and lungs. The company’s lead program addresses rare lung diseases.

The company’s non-viral platform is designed to provide targeted delivery of genetic payloads that include large and multiple genes across a broad array of tissues, and to be redosable for individualized and extended treatment throughout a patient’s life. The platform is designed to expand access to treatments for rare diseases and to address prevalent diseases through efficient, scalable manufacturing.