Generate Biomedicines priced a $400 million IPO to fund pivotal trials of its TSLP‑targeting antibody GB‑0895 and expand its AI‑driven protein design platform. The Flagship Pioneering‑backed company said it will allocate the bulk of proceeds to two phase‑3 asthma studies and to advancing a Phase 1b COPD program. Generate framed the offering as strategic capital to complete registrational work and further platform innovation.