Beam Therapeutics Raises $207 Million in IPO

Beam Therapeutics has announced aggregate gross proceeds of $207 million from their initial public offering which closed on February 11. Beam is a biotechnology company developing precision genetic medicines through the use of base editing. According to their website, Beam’s proprietary base editors create precise, predictable and efficient single base changes, at targeted genomic sequences, without making double-stranded breaks in the DNA. This enables a wide range of potential therapeutic editing strategies that Beam is using to advance a diversified portfolio of base editing programs. (Source: Beam Therapeutics Website, 11 February, 2020)