LEXINGTON, Mass., (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 the closing of its previously announced underwritten public offering of 8,050,000 shares of common stock at a price to the public of $6.00 per share, which includes the exercise in full of the underwriters’ option to purchase additional shares of common stock. The gross proceeds to LogicBio from the offering were $48.3 million, before deducting underwriting discounts and commissions and offering expenses payable by LogicBio.

Jefferies, Barclays and William Blair acted as joint book-running managers, and Chardan acted as lead manager for 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.