Why Generate is staying private as it grows clinical pipeline

Generate Biomedicines Inc. raised another huge financing round that allows the AI drug development company to continue its transition into the clinic regardless of whether an IPO is in the biotech’s near-term future. 

On Thursday, Generate said it raised $273 million in a series C round, bringing the total capital raised by the 2020-founded biotech to $693 million. According to BioCentury’s BCIQ database, the deal is the fourth largest biopharma venture round of the year...