Benzinga | May 3, 2021 03:26PM EDT

Biotech Firms Gyroscope Therapeutics, Talaris Therapeutics Set IPO Terms

* Two prospective biotech entrants have set debut terms ahead of their launch later this week.

* Gyroscope Therapeutics Holdings plc is a U.K.-based Phase 2 biotech developing gene therapies for ocular diseases.

* According to SEC S-1 prospectus, Gyroscope is planning to offer 6.8 million ADSs at a price range of $20 to $22. At the midpoint of the proposed range, Gyroscope would command a fully diluted market value of $633 million.

* The company plans to list ADSs on the Nasdaq Global Select Market under the symbol "VISN."

* Gyroscope's lead investigational gene therapy, GT005, is advancing in an ongoing Phase 1/2 trial and is evaluated in Phase 2 trials in geographic atrophy.

* U.S.-based Talaris Therapeutics is a Phase 3 biotech developing methods for allogeneic hematopoietic stem cell transplantation.

* It plans to offer 8.8 million shares at a price range of $16 to $18, with a fully diluted market value of $736 million at the mid-point.

* Talaris plans to list on the Nasdaq under the symbol "TALS."

* Should everything go according to plan, Gyroscope will pull in about $142 million while Talaris will raise roughly $150 million.