Precision Bio wants to show there's a better way to edit genes — and now it has $126M in IPO cash to prove it
After spending the second half of last year laying the carpet for an IPO — complete with a crossover round and a big partnership with Gilead — Precision BioSciences has raised $126 million in its public debut.
The going price was $16 each for 7.9 million shares $DTIL, smack in the middle of its proposed range but landing above Precision’s original pencilled-in goal of $100 million.
The Durham, NC-based gene editing upstart is pitching its ARC nuclease approach as a better alternative to the prominent trio of CRISPR, TALEN and zinc finger nuclease. Dubbed ARCUS, the tech derives its name from a homing endonuclease found in algae called I-Crel, repurposing its natural genome editing abilities to cut and paste onto cells as needed.
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