AI pharmaceutical company Generate Biomedicines (GENB.US) prices IPO at $16 per share, set to debut on Nasdaq tonight.

AI drug development company Generate Biomedicines (GENB.US) focused on immunology and oncology fields officially announced the IPO price on the US stock market. The biotechnology company, in the Phase III clinical stage, issued 25 million shares at $16 per share (at the midpoint of the $15 to $17 pricing range), successfully raising $400 million. According to the company, its AI-driven Generate platform has built a closely integrated "design-build-test-learn" closed-loop system aimed at generating proprietary data with therapeutic value and developing differentiated molecular solutions. The company claims that its technological potential has been preliminarily validated, with three protein drugs developed through computational engineering technology entering human clinical trials. Among them, the fastest-progressing GB-0895 is an investigational long-acting anti-thymic stromal lymphopoietin monoclonal antibody, currently recruiting patients in a registration Phase III clinical trial for severe asthma indication. Generate Biomedicines plans to list on the Nasdaq tonight under the stock symbol "GENB." Goldman Sachs Group, Inc., Morgan Stanley, Piper Sandler, Guggenheim Securities, and Cantor Fitzgerald are serving as joint book-running managers for this offering.