Inozyme Pharma, Inc. Announces Pricing of Public Offering of Common Stock

BOSTON, July 27, 2023 (GLOBE NEWSWIRE) -- Inozyme Pharma, Inc. (Nasdaq: INZY), a clinical-stage rare disease biopharmaceutical company developing novel therapeutics for the treatment of pathologic mineralization and intimal proliferation, today announced the pricing of an underwritten public offering of 12,500,000 shares of its common stock at a price of $4.80 per share, for aggregate gross proceeds of approximately $60 million, before deducting underwriting discounts and commissions and other offering expenses. In addition, Inozyme has granted the underwriters an option for a period of 30 days to purchase up to an additional 1,875,000 shares of common stock at the public offering price, less the underwriting discounts and commissions. All of the shares of common stock are being offered by Inozyme.

BofA Securities, TD Cowen and Piper Sandler are acting as joint book-running managers for the offering. Wedbush PacGrow and Needham & Company are acting as co-managers for the offering. The offering is expected to close on or about August 1, 2023, subject to satisfaction of customary closing conditions.

A shelf registration statement on Form S-3 (File No. 333-258702) relating to the shares of common stock offered in the public offering was filed with the Securities and Exchange Commission (the “SEC”) on August 11, 2021 and became effective on August 23, 2021. The offering was made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement. A preliminary prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and may be obtained for free by visiting the SEC’s website at www.sec.gov. A final prospectus supplement relating to the offering will be filed with the SEC. Copies of the preliminary prospectus supplement and final prospectus supplement, when available, and the accompanying prospectus relating to the offering may also be obtained by contacting: BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email at: [e-mail]; TD Cowen, 599 Lexington Avenue, New York, NY 10022, or by email at [e-mail] or by telephone at [phone]; or Piper Sandler, Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by telephone at [phone], or by email at [e-mail].