LEXINGTON, Mass., Sept. 30, 2020 (GLOBE NEWSWIRE) -- LogicBio Therapeutics, Inc. (Nasdaq:LOGC) (LogicBio), a company dedicated to extending the reach of genetic medicine with pioneering targeted delivery platforms, today announced that it intends to offer and sell shares of its common stock in an underwritten public offering. As part of the offering, LogicBio intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering on the same terms and conditions. All shares being offered are to be sold by LogicBio.

Jefferies, Barclays and William Blair are acting as joint book-running managers, and Chardan is acting as lead manager for the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

LogicBio intends to use the net proceeds from the offering to support clinical development of LB-001, to progress the development of its GeneRide and Next Generation Capsid platforms, to expand its pipeline of product candidates into other indications that may be targeted by its platforms and the balance to fund working capital, capital expenditures and other general corporate purposes.

About LogicBio Therapeutics

LogicBio Therapeutics is dedicated to extending the reach of genetic medicine with pioneering targeted delivery platforms. LogicBio’s proprietary genome editing technology platform, GeneRide, enables the site-specific integration of a therapeutic transgene without nucleases or exogenous promoters by harnessing the native process of homologous recombination. LogicBio is also developing a Next Generation Capsid platform for use in gene editing and gene therapies. LogicBio is developing these highly potent vectors for internal development candidates and potentially for business development collaborations. LogicBio is headquartered in Lexington, Mass.