mRNA company Translate seeking $115M IPO

mRNA therapeutics company Translate Bio Inc. (Lexington, Mass.) proposed to raise $115 million in an IPO on NASDAQ underwritten by Citigroup, Leerink and Evercore ISI.

Last month, the company began enrolling cystic fibrosis patients in a Phase I/II trial to receive single ascending doses of lead candidate MRT5005. The company expects to begin evaluating multiple ascending doses in the trial by year end. The candidate is designed to deliver mRNA encoding fully functional cystic fibrosis transmembrane conductance regulator (CFTR) protein to the lungs by way of a handheld nebulizer...