Generate:Biomedicines is planning an initial public offering to raise up to $425 million to advance its lead antibody into phase‑3 respiratory disease trials and to bankroll other clinical programs. The Flagship‑backed company intends to use proceeds for respiratory development and supporting pipeline growth. The planned IPO underscores continued investor appetite for platform biotechs with near‑term clinical inflection points and highlights the funding pathways companies pursue to push late‑stage biologics toward registrational studies.