Gene edit­ing ex­pert Ho­mol­o­gy de­tails the num­bers in its back-end­ed $1B No­var­tis deal, files for $100M IPO

Late Fri­day Ho­mol­o­gy Med­i­cines joined the list of biotechs crowd­ing in­to a hot IPO mar­ket, fil­ing for a $100 mil­lion of­fer­ing. And we got a look un­der the hood at the num­bers in­volved in the col­lab­o­ra­tion deal it struck re­cent­ly with No­var­tis.

Their SEC fil­ing notes that No­var­tis $NVS paid $35 mil­lion in cash plus an­oth­er $10 mil­lion in eq­ui­ty to sign on with Ho­mol­o­gy, which is ex­plor­ing oph­thalmic tar­gets and he­mo­glo­binopa­thy dis­ease tar­gets (a set of ge­net­ic blood dis­or­ders; one such is sick­le cell dis­ease) for the phar­ma gi­ant’s ear­ly-stage re­search group, NI­BR.

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