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IPO from HBM Healthcare Investments' portfolio: Homology Medicines raises USD 144 million

With Homology Medicines (Nasdaq: FIXX), another private company from the HBM Healthcare Investments portfolio went public yesterday. Due to the high demand, the company upsized its offering from 6.7 million to 9 million new shares. The shares were placed at a price of USD 16 per share, raising a total of USD 144 million in new capital for the company. On yesterday's first trading day, the share price rose to USD 18.66 (+16.6%). HBM Healthcare Investments took an initial USD 4 million stake in Homology in July 2017 (purchase of 0.53 million shares at USD 7.58) and participated with an additional USD 6 million in the IPO. Following the IPO, HBM Healthcare Investments holds approximately 0.9 million shares worth USD 16.8 million. As a result of the IPO, the net asset value per HBM-share (NAV) increases by CHF 0.80 (+0.5%). Homology advances a proprietary gene therapy and gene editing platform for the treatment of rare genetic diseases.