Flagship funds boost Generate Biomedicines (GENB) stake with IPO conversions, buys
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Generate Biomedicines, Inc. reported multiple insider-related transactions involving funds affiliated with Flagship Pioneering. On March 2, 2026, shares of Series A, B and C preferred stock held by these funds automatically converted into common stock on a one-for-1.5190 basis upon the closing of the company’s initial public offering. On the same date, Flagship Pioneering Fund VII, L.P., FPN II, L.P. and Pioneering Medicines 02, LLC each bought 1,562,500 shares of common stock at $16 per share in open-market or private transactions, for a total of 4,687,500 shares purchased. Separately, on February 26, 2026, Noubar Afeyan received a grant of 29,561 stock options that vest in full on February 19, 2027, subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 4,687,500 shares ($75,000,000)
Net Buy
20 txns
Insider
AFEYAN NOUBAR, Flagship VentureLabs VI LLC, Flagship Pioneering Fund VI, L.P., Flagship Pioneering Fund VII, L.P., Nutritional Health LTP Fund, L.P., Flagship Pioneering Special Opportunities Fund II, L.P., FPN II, L.P.
Role
Director, 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
Bought
4,687,500 shs ($75.00M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series A Preferred Stock | 18,483,785 | $0.00 | -- |
| Conversion | Series A Preferred Stock | 17,016,215 | $0.00 | -- |
| Conversion | Series A Preferred Stock | 1,500,000 | $0.00 | -- |
| Conversion | Series B Preferred Stock | 843,881 | $0.00 | -- |
| Conversion | Series B Preferred Stock | 1,265,822 | $0.00 | -- |
| Conversion | Series B Preferred Stock | 2,953,586 | $0.00 | -- |
| Conversion | Series B Preferred Stock | 2,109,704 | $0.00 | -- |
| Conversion | Series C Preferred Stock | 2,531,644 | $0.00 | -- |
| Conversion | Series C Preferred Stock | 1,265,822 | $0.00 | -- |
| Conversion | Series C Preferred Stock | 2,109,704 | $0.00 | -- |
| Conversion | Common Stock | 12,723,940 | $0.00 | -- |
| Conversion | Common Stock | 13,702,224 | $0.00 | -- |
| Conversion | Common Stock | 987,491 | $0.00 | -- |
| Conversion | Common Stock | 2,777,752 | $0.00 | -- |
| Conversion | Common Stock | 2,777,752 | $0.00 | -- |
| Purchase | Common Stock | 1,562,500 | $16.00 | $25.00M |
| Purchase | Common Stock | 1,562,500 | $16.00 | $25.00M |
| Purchase | Common Stock | 1,562,500 | $16.00 | $25.00M |
| Grant/Award | Stock Option (Right to Buy) | 29,561 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Series A Preferred Stock — 0 shares (Indirect, By Flagship Pioneering Fund VI, L.P.);
Series B Preferred Stock — 0 shares (Indirect, By Flagship Pioneering Fund VI, L.P.);
Series C Preferred Stock — 0 shares (Indirect, By Flagship Pioneering Fund VII, L.P.);
Common Stock — 12,723,940 shares (Indirect, By Flagship Pioneering Fund VI, L.P.);
Stock Option (Right to Buy) — 29,561 shares (Direct)
Footnotes (1)
- Securities held by Flagship Pioneering Fund VI, L.P. ("Flagship Fund VI"). Flagship Pioneering Fund VI General Partner LLC ("Flagship Fund VI GP") is the general partner of Flagship Fund VI. Flagship Pioneering, LLC ("Flagship Pioneering") is the manager of Flagship Fund VI GP. Noubar B. Afeyan, Ph.D. is the ultimate control person of Flagship Pioneering. Each of the Reporting Persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any. Each share of Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock (collectively, the "Preferred Stock") automatically converted into shares of the Issuer's Common Stock on a one-for-1.5190 basis upon the closing of the Issuer's initial public offering on March 2, 2026. The Preferred Stock had no expiration date. Securities held by Flagship Pioneering Fund VII, L.P. ("Flagship Fund VII"). Flagship Pioneering Fund VII General Partner LLC ("Flagship Fund VII GP") is the general partner of Flagship Fund VII. Flagship Pioneering is the manager of Flagship Fund VII GP. Each of the Reporting Persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any. Securities held by Nutritional Health LTP Fund, L.P. ("Nutritional LTP"). Nutritional Health LTP Fund General Partner LLC ("Nutritional LTP GP") is the general partner of Nutritional LTP. Flagship Pioneering is the manager of Nutritional LTP GP. Each of the Reporting Persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any. Securities held by Flagship Pioneering Special Opportunities Fund II, L.P. ("Flagship Opportunities Fund II"). Flagship Pioneering Special Opportunities Fund II General Partner LLC ("Flagship Opportunities Fund II GP") is the general partner of Flagship Opportunities Fund II. Flagship Pioneering is the manager of Flagship Opportunities Fund II GP. Each of the Reporting Persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any. Securities held by FPN II, L.P. ("FPN II Fund"). FPN General Partner LLC ("FPN GP") is the general partner of FPN II Fund. Flagship Pioneering is the manager of FPN GP. Each of the Reporting Persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any. Securities held by Pioneering Medicine 02, LLC ("PM02"). Charles R. Carelli, Jr., Chief Financial Officer of Flagship Pioneering, is the sole manager of PM02, and Flagship Fund VII is its majority equity holder. Each of the Reporting Persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any. Securities held by Flagship VentureLabs VI LLC ("VentureLabs VI"). Flagship VentureLabs VI Manager LLC ("VentureLabs VI Manager") is the manager of VentureLabs VI. Flagship Pioneering is the manager of VentureLabs VI Manager. Each of the Reporting Persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any. The shares underlying this option shall vest in full on February 19, 2027, subject to the Reporting Person's continued service on such vesting date.
FAQ
What insider transactions did Generate Biomedicines (GENB) report on March 2, 2026?
Generate Biomedicines reported that several Flagship Pioneering-affiliated funds converted Series A, B and C preferred stock into common stock and bought additional shares. These actions coincided with the company’s initial public offering and reflect portfolio-level positioning by affiliated investment vehicles.
What happened to Generate Biomedicines’ preferred stock in connection with the IPO?
Each share of Series A, Series B and Series C preferred stock automatically converted into common stock on a one-for-1.5190 basis. This conversion occurred upon the closing of Generate Biomedicines’ initial public offering on March 2, 2026, and the preferred stock had no expiration date.
What equity award did Noubar Afeyan receive from Generate Biomedicines?
Noubar Afeyan received a grant of 29,561 stock options on February 26, 2026. These options represent a right to buy common shares and will vest in full on February 19, 2027, conditioned on his continued service through that vesting date.