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MeiraGTx Holdings to raise $92M in IPO

MeiraGTx Holdings PLC plans to sell 5 million ordinary shares at a price of between $14 and $16 apiece to raise $92 million gross proceeds in an IPO.

The gene therapy company granted underwriters an option to buy up to an additional 750,000 ordinary shares in the offering.

MeiraGTx applied to list its shares on Nasdaq global select market under the MGTX symbol.

MeiraGTx intends to use net proceeds from the offering to advance its product pipeline which includes AAV-CNGB3 and AAV-CNGA3 for treating achromatopsia, an inherited retinal disease characterized by partial or total absence of color vision.

A portion of the proceeds will also be allocated to scale-up the company's manufacturing facility and related processes, among other things.

Merrill Lynch Pierce Fenner & Smith Inc., Barclays Capital Inc., Evercore Group LLC and Chardan Capital Markets LLC are acting as underwriters in the offering.

New York-based MeiraGTx develops gene therapies intended to treat conditions involving the eye, salivary glands and central nervous system.