Biotech Odyssey’s Upsized IPO, Placement Raises $304 Million (1)

Odyssey Therapeutics Inc. raised $304 million in an upsized US initial public offering priced at the top of a marketed range, along with a private placement.

The Boston-based company sold 15.5 million shares for $18 each, according to a statement Thursday. The clinical stage biotechnology firm, focused on treating autoimmune and inflammatory conditions, had offered 13.24 million shares for $16 to $18 each.

In a concurrent private placement, an affiliate of TPG Life Sciences Innovations bought 1.39 million shares at the IPO price, according to the statement.

At the IPO price, the firm has a market value of about $850.6 ...