BOSTON, March 22, 2019 (GLOBE NEWSWIRE) -- resTORbio, Inc. (Nasdaq:TORC), a clinical-stage biopharmaceutical company developing innovative medicines that target the biology of aging to prevent or treat age-related diseases, today announced the closing of its previously announced underwritten public offering of 7,200,000 shares of its common stock at a public offering price of $6.95 per share. resTORbio also granted the underwriters a 30-day option to purchase up to an additional 1,080,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds raised in the offering, before deducting underwriting discounts and commissions and offering expenses, are approximately $50.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. All of the shares in the offering were sold by resTORbio.

BofA Merrill Lynch, SVB Leerink and Guggenheim Securities acted as joint book-running managers for the offering. Wedbush PacGrow acted as co-manager for the offering.

About resTORbio

resTORbio, Inc. is a clinical stage biopharmaceutical company developing innovative medicines that target the biology of aging to prevent or treat age-related diseases. resTORbio’s lead program selectively inhibits TORC1, an evolutionarily conserved pathway that contributes to the decline in function of multiple organ systems, including the immune, cardiovascular and central nervous systems.