Ho­mol­o­gy, Unum set IPO terms; Knight pays Arde­lyx $19M for tena­panor rights in Cana­da

→ Two biotechs in Boston have set the terms for their IPOs: Ho­mol­o­gy Med­i­cines plans to raise $100 mil­lion by of­fer­ing 6.7 mil­lion shares be­tween $14 and $16, and Unum Ther­a­peu­tics is shoot­ing for $75 mil­lion by of­fer­ing 5.8 mil­lion shares be­tween $12 and $14. For Unum, in­sid­ers in­tend to pur­chase $37.5 mil­lion worth of shares in the of­fer­ing, and Seat­tle Ge­net­ics will in­vest $5 mil­lion in a con­cur­rent pri­vate place­ment. Ho­mol­o­gy is work­ing on ade­no-as­so­ci­at­ed virus tech to de­liv­er gene ther­a­pies and will use the funds to ad­vance its in­ves­ti­ga­tion­al drug HMI-102 for the treat­ment of phenylke­tonuria (PKU) in­to a Phase I/II study, ac­cord­ing to the fil­ing. Unum is de­vel­op­ing CAR-T ther­a­pies for a broad range of can­cers. An ear­ly look at Phase 1 da­ta for the drug ACT087 in non-Hodgkin lym­phoma showed that two pa­tients died, ac­cord­ing to Unum’s fil­ing. The com­pa­ny plans to use the IPO pro­ceeds to ad­vance AC­TR087 and AC­TR707 through ear­ly clin­i­cal tri­als.

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