BBJ: Rubius Therapeutics raises $241M in IPO, highest for biotech company in Mass. history

RUBIUS THERAPEUTICS raised $241 million in its IPO Wednesday.

PROVIDENCE – Cambridge, Mass.-based Rubius Therapeutics Inc. raised $241 million in its initial public offering Wednesday, the highest for a biotechnology company in Massachusetts history by more than $90 million, according to the Boston Business Journal Wednesday.

The company had previously projected a $200 million IPO. The previous highest IPO for a biotech company in the Bay State was $153 million for Kiniska Pharmaceuticals.

The company recently was approved for $9 million in incentives from Rhode Island to open a pharmaceutical manufacturing plant in Smithfield.

The company was recently estimated to be worth $2 billion and was reported to have 83 employees in a filing in June.

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