Generate Biomedicines (GENB.US), an AI-driven drug discovery company focused on immunology and oncology, has finalized its U.S. IPO pricing. The clinical-stage biotech firm, which is advancing through Phase 3 trials, priced 25 million shares at $16 per share, the midpoint of its $15–$17 range, raising $400 million in total.

The company highlighted that its proprietary Generate platform employs an integrated "design-build-test-learn" cycle, intended to produce valuable therapeutic data and develop differentiated molecular solutions. Generate Biomedicines stated that its technology has shown early validation, with three computationally engineered protein therapeutics already in human clinical trials.

The most advanced candidate, GB-0895, is an investigational long-acting anti-thymic stromal lymphopoietin monoclonal antibody. It is currently enrolling patients in a registrational Phase 3 clinical trial for severe asthma.

Generate Biomedicines is scheduled to begin trading on the Nasdaq under the ticker symbol "GENB" tonight. Goldman Sachs, Morgan Stanley, Piper Sandler, Guggenheim Securities, and Cantor Fitzgerald acted as joint book-running managers for the offering.