BOSTON, July 23, 2020 (GLOBE NEWSWIRE) -- Inozyme Pharma, Inc. (Nasdaq: INZY), a rare disease biopharmaceutical company developing novel therapeutics for the treatment of diseases of abnormal mineralization, today announced the pricing of its initial public offering of 7,000,000 shares of common stock at a public offering price of $16.00 per share, for gross proceeds of $112.0 million, before underwriting discounts and commissions and offering expenses payable by Inozyme. In addition, Inozyme has granted the underwriters an option for a period of 30 days to purchase up to 1,050,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. All shares are being offered and sold by Inozyme.

Inozyme’s common stock is expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “INZY” on July 24, 2020. The offering is expected to close on or about July 28, 2020, subject to the satisfaction of customary closing conditions.

BofA Securities, Cowen and Piper Sandler are acting as joint book-running managers for the offering. Wedbush PacGrow is acting as lead manager for the offering.

About Inozyme Pharma

Inozyme Pharma is a rare disease biopharmaceutical company developing novel therapeutics for the treatment of diseases of abnormal mineralization. Through our in-depth understanding of the biological pathways involved in mineralization, we are pursuing the development of therapeutics to address the underlying causes of these debilitating diseases. It is well established that two genes, ENPP1 and ABCC6, play key roles in a critical mineralization pathway and that defects in these genes lead to abnormal mineralization. We are initially focused on developing a novel therapy to treat the rare genetic diseases of ENPP1 and ABCC6 deficiencies.