Scribe Therapeutics raises $129 million in rare early-stage IPO to fund epigenetic heart disease therapy
Scribe Therapeutics, founded by Jennifer Doudna, completed an IPO raising nearly $129 million, selling 8.58 million shares at $15 each. It is the first gene‑editing company to go public in more than two years.
The company plans to use the proceeds mainly to advance its investigational epigenetic silencing drug STX‑1150 for atherosclerotic cardiovascular disease.
As part of the offering, Scribe also sold 500,000 shares to Sanofi for $15 each, linked to a licensing agreement that could be worth over $1 billion for developing NK‑cell cancer therapies using its CRISPR platform.
The IPO includes a 30‑day option for underwriters to purchase additional shares, which could modestly increase total proceeds. Scribe is expected to begin trading on Nasdaq under the ticker SCTX.
This writeup was produced by pharmadog from original reporting by BioSpace.
Original headline: “Scribe reels in nearly $129M in rare early-stage IPO for a gene editing biotech”
read at BioSpace ↗
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