Generate Biomedicines completed a $400 million IPO, selling 25 million shares at $16 apiece, to fund pivotal Phase III tests of its AI‑designed anti‑TSLP antibody GB‑0895 and other platform programs. The company, spun out of Flagship Pioneering, plans to deploy roughly $300 million toward two phase III asthma trials and keep a portion of proceeds for platform innovation. Company executives framed the raise as validation for programmable‑biology approaches that accelerate antibody engineering and extend half‑life. Generate will begin trading on Nasdaq under the ticker GENB and said some proceeds will advance a phase 1b COPD program and other preclinical assets. The offering is the largest biotech IPO since 2024 and signals renewed investor appetite for AI‑driven discovery companies that couple platform IP with late‑stage assets.