Novo-Backed Biotech Hemab Raises $301.5 Million in Upsized IPO

Hemab Therapeutics Holdings Inc., a clinical-stage biotechnology company that counts Novo Nordisk Foundation as one of its biggest investors, raised $301.5 million in an upsized US initial public offering that priced at the top of a marketed range.

The Cambridge, Massachusetts-based company sold 16.75 million shares for $18 apiece, according to a statement confirming an earlier report by Bloomberg News. The firm had already increased the number of shares offered earlier Thursday to 15 million from 11.8 million shares, marketed for $16 to $18 each.

At the IPO price, Hemab has a market value of about $764 million, based ...