Translate Bio Launches $115 Million IPO

June 18, 2018

Translate Bio announced on 6/18/2018 that it has launched an initial public offering of 7,700,000 shares of its common stock. In addition, Translate Bio expects to grant the underwriters a 30-day option to purchase up to 1,155,000 additional shares of common stock at the public offering price, less the underwriting discount. All of the shares to be sold in the proposed offering will be offered by Translate Bio. The initial public offering price is expected to be between $12.00 and $14.00 per share. Translate Bio has applied to list the shares on the Nasdaq Global Market under the symbol “TBIO.”

Citigroup, Leerink Partners and Evercore ISI are acting as joint book-running managers for the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.

Translate is focused on developing mRNA (messenger RNA) based therapies that treat diseases caused by protein or gene dysfunction. The company believes their platform can be applied across a broad array of diseases and target tissues via multiple routes of administration. They are currently undergoing lead identification activities seeking to identify additional potential mRNA therapeutics in lung, liver, eye, CNS and lymphatic tissues. All of these programs are in the discovery stage.

Earlier this month, Translate announced an agreement with Sanofi to develop novel mRNA based vaccines for infectious diseases. Under the terms of the agreement, Sanofi will make an upfront payment of $45 million and Translate will be eligible for up to an additional $805 million.

CP Wire

Submit an article to cafepharma's CP Wire. Click here to find out more.

current feelings about your job

Please rate how you feel about your job this moment. 1 = "I hate my job" and 7 = "I love my job"
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
Fill in the blank.