Generate Biomedicines filed for an initial public offering shortly after dosing the first patient in Phase III trials of GB-0895, an AI-designed anti-TSLP antibody for severe asthma. The company said proceeds will fund two Phase III trials, a Phase Ib COPD study, and broader clinical development. Generate has raised $805 million privately and counts partnerships with Amgen and Novartis. The IPO move underscores investor interest in companies that combine AI-driven protein design with rapid clinical advancement.