Honigman advises Prime Medicine on patent matters relating to pricing of upsized initial public offering
On October 19, 2022, Prime Medicine, Inc., a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, announced the pricing of its upsized initial public offering of 10,294,118 shares of its common stock at a price to the public of $17.00 per share. The shares began trading on the Nasdaq Global Market on October 20 under the ticker symbol “PRME.” Honigman is advising Prime Medicine on patent matters related to the transaction. Honigman congratulates Prime Medicine on this significant transaction for the company.
The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Prime Medicine, are expected to be $175.0 million. In addition, the underwriters have a 30-day option to purchase up to 1,544,117 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions.
The Honigman team advising Prime Medicine on patent matters related to the IPO includes Kelly Murphy, Gretchen Miller, Ekaterina Pak, Ph.D., Jacqueline Gamboa-Wilson, Ph.D., and Richelle Cutler, Ph.D.
Honigman is an Am Law 200 full-service, general business law firm with more than 350 attorneys across the country in Chicago, Michigan (Ann Arbor, Bloomfield Hills, Detroit, Grand Rapids, Kalamazoo and Lansing), Washington, D.C. and in our newest wholly-owned subsidiary office in Israel, Honigman Law Israel, which announced the arrival of five Wall Street attorneys last month, as Honigman builds a community of U.S. lawyers in Israel. Honigman’s growth continues with the firm adding more than 80 hires in the past 18 months. Our lawyers counsel clients on complex issues in more than 60 areas of law.
About Prime Medicine
Prime Medicine is a biotechnology company committed to delivering a new class of differentiated, one-time, curative genetic therapies to address the widest spectrum of diseases. The company is deploying Prime Editing technology, a versatile, precise, efficient and broad gene editing technology, which is designed to make only the right edit at the right position within a gene. With the theoretical potential to repair approximately 90 percent of known disease-causing genetic mutations across many organs and cell types, medicines based on Prime Editing, if approved, could offer a one-time curative genetic therapeutic option to a broad set of patients.