CAMBRIDGE, Mass., May 13, 2019 (GLOBE NEWSWIRE) -- Axcella Health Inc., a biotechnology company pioneering the research and development of novel multifactorial interventions to address dysregulated metabolism and support health, today announced the closing of its initial public offering of 3,571,428 shares of common stock at a public offering price of $20.00 per share. The gross proceeds from the offering were $71.4 million before deducting underwriting discounts and commissions and estimated offering expenses. All of the shares in the offering were offered by Axcella. The shares commenced trading on The Nasdaq Global Market on May 9, 2019, under the ticker symbol “AXLA.”

Goldman Sachs & Co. LLC, J.P. Morgan and SVB Leerink acted as joint book-running managers for the offering.

About Axcella Health

Axcella is designing and developing AXA Candidates, compositions of endogenous metabolic modulators, or EMMs, engineered in distinct ratios, designed to target and maximize the fundamental role that EMMs play in regulating multiple metabolic functions. Axcella’s AXA Candidates are generated from its proprietary, human-focused AXA Development Platform. Axcella believes its expertise and capabilities in EMMs position it to become a preeminent biotechnology company reprogramming metabolism to address a diverse set of complex diseases and support health. Axcella’s AXA Development Platform has already produced a pipeline of product candidates in programs targeting liver, muscle and blood. Axcella was founded by Flagship Pioneering.