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Homology Medicines files for $100M IPO

Homology Medicines, Inc. is looking to raise up to $100.0 million in an IPO on the Nasdaq Global Select Market.

The Bedford, Mass.-based genetic medicines company plans to list its shares under the FIXX symbol, according to a securities filing.

The company aims to use its gene editing technology to develop HMI-102, which is meant to treat a rare inherited disorder known as phenylketonuria. Funds raised will be used for those efforts.

Merrill Lynch Pierce Fenner & Smith Inc., Cowen and Co. LLC, Evercore Group LLC, and BTIG LLC are acting as underwriters for the offering.

The company also disclosed the financial terms of a previously announced licensing agreement with Novartis AG for the commercialization of its gene-editing technology for treating a certain blood disorder and eye diseases.

Under the deal, Homology Medicines received $35.0 million upfront from the Swiss drugmaker and issued additional shares of its series B preferred stock to Novartis for $10.0 million.

Homology is also eligible to receive up to a total of $960.0 million in milestone payments for the licensed products.