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Genzyme Molecular Oncology Files for IPO

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CAMBRIDGE, Mass--Genzyme Molecular Oncology, the Genzyme division that develops gene-based approaches to cancer therapy and diagnosis, announced April 28 that it had filed a registration statement with the US Securities and Exchange Commission for an initial public offering of 3 million shares of common stock. The company also granted underwriters a 30-day option to buy up to 450,000 additional shares to cover over-allotments.

The company stated that it anticipated the initial public offering stock price to be between $9 and $11 per share. Genzyme Molecular employs an integrated approach to translating information gained through its genomics capabilities into gene therapy, small molecule therapeutics, and genetic diagnostics.

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