PepGen, a clinical-stage biotechnology company advancing the next generation of oligonucleotide therapies with the goal of transforming the treatment of severe neuromuscular and neurological diseases, has announced the pricing of its initial public offering. The offering consists of 9,000,000 shares of common stock at an initial public offering price of $12 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses payable by PepGen, are expected to be $108M. In addition, PepGen has granted the underwriters a 30-day option to purchase up to an additional 1,350,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. All of the shares of common stock are being offered by PepGen.
BofA Securities, SVB Securities, and Stifel are acting as joint book-running managers for the offering. Wedbush PacGrow is acting as lead-manager for the offering. A registration statement relating to the offering has been filed with the Securities and Exchange Commission and became effective on 5 May 2022.
PepGen, Inc. is a clinical-stage biotechnology company advancing the next-generation of oligonucleotide therapies with the goal of transforming the treatment of severe neuromuscular and neurological diseases. PepGen’s Enhanced Deliver Oligonucleotide, or EDO, platform is founded on over a decade of research and development and leverages cell-penetrating peptides to improve the uptake and activity of conjugated oligonucleotide therapeutics. Using these EDO peptides, we are generating a pipeline of oligonucleotide therapeutic candidates that target the root cause of serious diseases.