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Magenta Therapeutics plans $100M IPO

Cambridge, Mass.-based Magenta Therapeutics Inc. is looking to raise up to $100 million in its IPO on the Nasdaq Global Market.

Magenta Therapeutics, which will list under the MGTA ticker, will use the net proceeds from the offering to fund the development of its lead conditioning programs and related product candidates as well as new and ongoing research and development activities.

A portion of the proceeds is also allocated for new product engine, working capital and other general corporate purposes.

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Cowen and Co. LLC are acting as joint book-running managers in the offering.

Magenta Therapeutics is a clinical-stage biotechnology company that develops novel medicines to improve stem cell transplants.