Generate Biomedicines has raised $400 million in its February IPO. The company offered 25,000,000 shares at $16.00 per share.
Shares began trading on the Nasdaq Global Select Market under the ticker GENB on February 27, 2026. The offering closed on March 2, 2026.
Generate Biomedicines is a clinical-stage biotech that develops protein therapeutics using AI. Its lead program, GB-0895, is a monoclonal antibody being evaluated in Phase III clinical trials for severe asthma.
Generate’s core technology, the Generate Platform, combines generative AI models with automated laboratory systems used to design and test proteins.
GB-0895 is a long-acting monoclonal antibody targeting thymic stromal lymphopoietin (TSLP), a signaling protein involved in airway inflammation associated with asthma.
The therapy is enrolling patients in two global Phase III clinical trials for severe asthma known as SOLAIRIA-1 and SOLAIRIA-2. The first patient was dosed in January 2026, and full enrollment is expected by the first half of 2028.
GB-0895 is designed for administration every six months through a subcutaneous injection. Current biologic therapies for severe asthma are typically given every two to eight weeks.
Earlier studies indicated that the therapy reduced inflammatory biomarkers associated with asthma, including blood eosinophils and other inflammatory markers.
The therapy is also being evaluated in a Phase Ib expansion trial in patients with moderate-to-severe chronic obstructive pulmonary disease (COPD). Generate plans to discuss the next development steps for COPD with regulators in 2026.
The company is also advancing oncology programs designed using the Generate Platform.
One program, GB-4362, is a monoclonal antibody designed to neutralize circulating monomethyl auristatin E (MMAE), a chemotherapy payload used in antibody-drug conjugates. By binding free MMAE in the bloodstream, the therapy aims to reduce systemic toxicity while preserving the anti-tumor activity of the conjugated cancer drug.
The therapy received investigational new drug clearance from the FDA in December 2025 and was granted Fast Track designation in January 2026. Generate plans to initiate a Phase I clinical trial in 2026 evaluating the therapy in combination with enfortumab vedotin and pembrolizumab for metastatic urothelial cancer.
Another investigational program, GB-5267, is a MUC16-directed CAR-T cell therapy designed to treat solid tumors. The therapy targets ovarian cancer cells expressing the MUC16 antigen and includes additional engineering intended to support T-cell activity within tumors.
GB-5267 is being developed in collaboration with Roswell Park Comprehensive Cancer Center. The center is expected to sponsor the program’s Phase I clinical trial, which is planned to begin in 2026 following investigational new drug clearance in December 2025.
Generate has collaborated with pharma partners, including Amgen and Novartis. The company previously announced six discovery programs with Amgen in 2022 and additional discovery programs with Novartis in 2024. These partnerships apply the Generate Platform to therapeutic targets selected by the collaborators.
Generate joins a growing pool of biotech companies that have completed IPOs in 2026.
SpyGlass Pharma raised about $172.5 million in February to develop long-acting drug-delivery treatments for chronic eye diseases. Its lead candidate, the Bimatoprost Drug Pad-IOL System, delivers the glaucoma drug bimatoprost for up to three years after cataract surgery and is being studied in Phase III trials for open-angle glaucoma or ocular hypertension.
Agomab Therapeutics raised roughly $200 million in its Nasdaq debut and is developing treatments for fibrotic diseases. Its lead program, ontunisertib, is an oral drug targeting the TGFβ signaling pathway for fibrostenosing Crohn’s disease, while another candidate, AGMB-447, is an inhaled therapy in development for idiopathic pulmonary fibrosis.
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