U.S. Biotech Firm Generate Biomedicines Raises $400 Mln in IPO

Dow Jones
02/27
 

By Jason Chau

 

Generate Biomedicines has announced the pricing of its initial public offering, implying a market value of about $2 billion for the U.S. biotechnology firm.

The company, which specializes in designing and developing drugs using artificial intelligence, raised $400 million from selling 25 million shares at $16.00 each.

Shares are expected to start trading on Friday, with the public offering set to close on March 2.

Generate has granted underwriters a 30-day option to purchase up to an additional 3.75 million shares.

In September, the Somerville, Mass.-based company said it had raised nearly $700 million in equity financing since 2020, including $273 million from a Series C funding round backed by investors such as Nvidia's venture capital arm.

Goldman Sachs and Morgan Stanley are acting as joint lead book-running managers for the IPO.

 

Write to Jason Chau at jason.chau@wsj.com

 

(END) Dow Jones Newswires

February 27, 2026 00:44 ET (05:44 GMT)

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