Editas Medicine, a US-based genome editing company backed by corporate venturing unit Google Ventures, filed for a $100m initial public offering on Nasdaq on Monday.
Founded in 2013, Editas is developing a genome editing platform that will form the basis of therapies for diseases caused by genetic defects. It is also researching treatments for infectious and oncologic diseases that affect the liver, lung, blood, eye and muscle.
Between $15m and $20m of the proceeds from the offering will fund preclinical studies and clinical trials for a treatment being developed to combat Leber Congenital Amaurosis, a genetic disease that causes progressive blindness.
Up to $22m will go to preclinical studies for an Editas collaboration with immuno-oncology company Juno Therapeutics, with the rest largely earmarked for expansion of its platform technology and preclinical studies of other research intiatives.
Editas has so far raised $163m in funding across two rounds. Google Ventures, which took part in Editas’ $120m series B round in August 2015, owns a share worth less than 5%.
Venture capital firm Flagship Ventures is the company’s largest shareholder, owning a 16.6% stake, while Polaris Ventures Partners and Third Rock Ventures each hold 15.6%, BNG0 owns 8.9%, and Deerfield Management Company, Fidelity Management & Research and Viking Global 5.7% each.
The underwriters for the IPO are Morgan Stanley, J.P. Morgan Securities, Cowen and Company, and JMP Securities.
Editas was one of four US-based pharmaceutical companies to file for an IPO on Monday, the other three being Corvus Pharmaceuticals, Syndax Pharmaceuticals and Reata Pharmaceuticals.