Generate Biomedicines completed a $400 million initial public offering to fund pivotal trials and platform work. The Flagship Pioneering‑backed company will direct roughly $300 million toward two phase III asthma trials of its AI‑designed anti‑TSLP antibody GB‑0895, with additional proceeds earmarked for COPD studies and platform R&D. Management framed the raise as validation of programmable biology and AI‑driven protein design. The offering arrives amid renewed investor appetite for late‑stage, AI‑enabled biotechs and follows a string of biotech IPOs in February. Generate plans to use extended‑half‑life engineering to compete in a crowded respiratory market and expects the cash to sustain near‑term registrational work and discovery efforts.