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Gene therapy focused AVROBIO plans $86.3M IPO

Cambridge, Mass.-based AVROBIO Inc. is planning an IPO of its common shares worth about $86.3 million.

AVROBIO is a clinical stage gene therapy company focused on developing potentially curative ex vivo lentiviral-based gene therapies to treat rare diseases following a single dose.

The company intends to apply its common stock on the Nasdaq Global Market under the symbol AVRO.

AVROBIO also plans to grant the underwriters an option to buy additional shares.

The company intends to use the net proceeds for the clinical development of its gene therapy candidate AVR-RD-01 to treat Fabry disease, for developing other product candidates, for external and internal manufacturing and process development activities; for research and development and the remainder for general and administrative expenses, operating expenses, working capital and other general corporate purposes.

Morgan Stanley & Co. LLC, Cowen and Co. LLC, Wells Fargo Securities LLC and Wedbush Securities Inc. are acting as underwriters for the offering.