Generate Biomedicines (GENB) Registration Filing summary

Company overview and business model

• Clinical-stage generative biology company leveraging AI-driven platform for protein drug design and development.

• Platform integrates computational models and scalable biohardware to create differentiated therapeutics across multiple modalities and disease areas.

• Lead product candidate, GB-0895, is a long-acting anti-TSLP monoclonal antibody in Phase 3 trials for severe asthma, with additional programs in COPD and oncology.

• Business model includes internal pipeline development and strategic collaborations with major pharma partners (Amgen, Novartis).

Financial performance and metrics

• No product sales to date; revenue derived from collaboration agreements with Amgen and Novartis.

• 2025 revenue: $31.9M (up from $20.5M in 2024), primarily from collaboration milestones.

• Net loss for 2025: $223.0M; accumulated deficit as of December 31, 2025: $676.3M.

• Cash, cash equivalents, and marketable securities as of December 31, 2025: $221.5M.

• Pro forma net loss per share (2025): $(2.18); pro forma shares outstanding: 102.3M.

Use of proceeds and capital allocation

• Estimated net proceeds from IPO: $368.8M (or $424.9M if underwriters' option exercised), assuming $16.00/share.

• Proceeds to fund: (i) completion of two Phase 3 trials for GB-0895 in severe asthma, (ii) completion of Phase 1b and next phase for GB-0895 in COPD, (iii) platform and technology innovation, (iv) advancement of GB-4362 and GB-5267 through topline Phase 1 data, and (v) additional R&D and working capital.

• Expected to fund operations into the first half of 2028.