Friday, February 9, 2024

Metagenomi, funded by Moderna, lowers its US IPO valuation goal to $563 million

 Metagenomi Technologies, a manufacturer of genetic medicines, stated on Thursday that it intends to value its US initial public offering (IPO) at $563 million, which is close to the low end of its initial range.

The organization, supported by Moderna and Bayer Medical services , plans to raise about $93.8 million by selling 6.25 million offers at $15 each.

That is the lower end of its value scope of $15-$17 per share. Metagenomi would have had a $638 million market value at $17 per share.

Metagenomi, one of a line of medical organizations that have as of late looked to open up to the world, is creating treatments for hereditary illnesses like hemophilia A.

Its income has been all created from three coordinated effort arrangements, incorporating one with Moderna, and no item deals. The organization is yet to make money.

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