Two pre­clin­i­cal biotechs rid­ing the IPO wave this week look to raise $466M-plus; Black­stone's Galakatos backs Rea­ta to the tune of $350M

→ These days, there’s vir­tu­al­ly no raise too big for biotech. Case in point: 2 loom­ing IPOs where the ex­ec­u­tive team is sketch­ing out some mega-mon­ey that can fu­el their op­er­a­tions for some time. Avid­i­ty Bio­sciences, which has a pre­clin­i­cal pro­gram for my­oton­ic dy­s­tro­phy type 1, be­lieves it can gin up to $248 mil­lion or more now, based on the high end of their range. They’re look­ing for a mar­ket cap of around $619 mil­lion. Ge­off Mc­Do­nough at Gen­er­a­tion Bio, mean­while, has his eyes set on $218 mil­lion-plus with a top-end range of $19 a share. Gen­er­a­tion is al­so pre­clin­i­cal, some­thing that would have scared off in­vestors ear­li­er. To­day, that pro­file can be worth more than $880 mil­lion in mar­ket val­ue.

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