FOLLOW US

Generate Biomedicines, a Massachusetts-based biotech leveraging an AI-powered discovery platform to "program biology" for breakthrough therapeutics, filed Monday with U.S. regulators to raise approximately $400 million in an initial public offering.

The Somerville company plans to offer 25 million shares priced between $15 and $17 each, targeting $400 million at the midpoint, according to its S-1 filing with the Securities and Exchange Commission. Shares are expected to list on Nasdaq under the ticker GENB, with pricing slated for the week of Feb. 23, 2026.

Founded in 2018 and backed by Flagship Pioneering (lead investor and incubator of Moderna), Generate uses its proprietary Generate Platform — a therapeutic-area- and modality-agnostic system combining computational innovation with scalable biohardware — to address diseases beyond reach of traditional drug discovery.

"Our vision is to program biology to generate optimal therapeutics for the greatest impact on human health," the company stated in the filing. "Central to our vision is the Generate Platform, designed to be a therapeutic area and protein modality agnostic system integrating computational innovation with scalable biohardware."

The company's lead candidate, GB-0895, is an investigational long-acting monoclonal antibody in Phase 3 development for severe asthma — a condition with substantial unmet need. Industry data cited in the filing shows only 15% to 25% of eligible patients receive biologic therapy, largely due to adherence and persistence issues with shorter-acting agents.

"GB-0895's potential dosing regimen is designed to reduce injection frequency to address these challenges," the company explained.

Generate reported $32 million in revenue for the year ended Dec. 31, 2025. The IPO proceeds will support advancement of GB-0895 and broader pipeline expansion using the AI platform.

The offering is led by Goodwin Procter LLP and Latham & Watkins LLP as counsel to Generate Biomedicines. Underwriters are advised by Skadden Arps Slate Meagher & Flom LLP and Greenberg Traurig LLP. J.P. Morgan and Morgan Stanley serve as financial advisers to Generate, with UBS Investment Bank advising the underwriters.

Generate's filing marks another milestone in AI-driven biotech going public amid surging investor interest in computational platforms capable of accelerating therapeutic discovery for complex diseases like severe asthma.