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Genetic medicines developer Beam Therapeutics plans Nasdaq IPO

Beam Therapeutics Inc. is planning an IPO of its common shares on the Nasdaq Global Market under the ticker symbol BEAM.

The Cambridge, Mass.-based company — led by CEO John Evans — develops genetic medicines that repair disease-causing genes by making edits to individual base pairs in the genetic code.

Arch Venture Partners LP and F-Prime Capital Partners Healthcare Fund V LP own 21.1% and 17.9% stake in the company, respectively.

Beam Therapeutics plans to use the net proceeds from the offering to fund research and development of their base editing programs, to fund studies of their current programs and for future potential programs. The remaining funds will be used for general corporate purposes.

Currently, all programs of the company are in the preclinical stage of development.

J.P. Morgan Securities LLC, Jefferies LLC and Barclays Capital Inc. are acting as joint book-running managers for the IPO.