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Magenta Therapeutics Launches Proposed Public Offering

April 29, 2019 Off By BusinessWire

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Magenta
Therapeutics, Inc. (Nasdaq: MGTA), a clinical-stage
biotechnology company developing novel medicines to bring the curative
power of stem cell transplant to more patients, today announced that it
has launched a proposed public offering of 4,250,000 shares of its
common stock.

All shares of common stock will be offered by Magenta. Magenta expects
to grant the underwriters a 30-day option to purchase up to an
additional 637,500 shares of common stock. Magenta intends to use the
net proceeds of the offering to advance its lead conditioning programs
through preclinical studies and into Phase 1 clinical trials; to advance
its first-line mobilization program, MGTA-145, through Phase 1 and into
Phase 2 clinical trials; and to advance its cell therapy program,
MGTA-456, through Phase 2 and into Phase 3 clinical trials. The
remainder of the net proceeds will be used for research and development,
working capital, and general corporate purposes. The proposed offering
is subject to market and other conditions, and there can be no assurance
as to whether or when the proposed offering may be completed, or as to
the actual size or terms of the proposed offering.

J.P. Morgan, Goldman Sachs & Co. LLC and Cowen are acting as joint book
running managers for the offering. Wedbush PacGrow is acting as lead
manager for the offering.

The proposed offering will be made only by means of a prospectus. A
preliminary prospectus supplement and accompanying prospectuses relating
to and describing the terms of this offering has been filed with the
U.S. Securities and Exchange Commission (the “SEC”). When available,
copies of the preliminary prospectus may be obtained from: J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, telephone: 866-803-9204; Goldman Sachs & Co.
LLC, Prospectus Department, 200 West Street, New York, NY 10282,
telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected];
Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department,
telephone: 631-274-2806.

Important Information

A registration statement relating to these securities has been filed
with the SEC but has not yet become effective. These securities may not
be sold, nor may offers to buy be accepted, prior to the time the
registration statement becomes effective. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy, nor
shall there be any offer or sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities
laws of any such state or other jurisdiction.

About Magenta Therapeutics

Headquartered in Cambridge, Mass., Magenta Therapeutics is a
clinical-stage biotechnology company developing novel medicines for
patients with autoimmune diseases, blood cancers and genetic diseases.
By creating a platform focused on critical areas of unmet need, Magenta
Therapeutics is pioneering an integrated approach to allow more patients
to receive one-time, curative therapies by making the process more
effective, safer and easier.

Forward-Looking Statements

This press release contains forward-looking statements that are made
pursuant to the safe harbor provisions within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking statements
are any statements that express the current beliefs and expectations of
management, including but not limited to statements related to Magenta’s
ability to complete the financing and its use of proceeds. These and
other risks are discussed in Magenta’s filings with the SEC, including,
without limitation, its Annual Report on Form 10-K, filed on March 19,
2019, and its periodic reports on Form 10-Q and Form 8-K, as well as the
risks identified in the registration statement and the preliminary
prospectus supplement relating to the offering. Any statements contained
herein that do not describe historical facts are forward-looking
statements that are subject to risks and uncertainties that could cause
actual results, performance and achievements to differ materially from
those discussed in such forward-looking statements. Moreover, except as
required by law, neither Magenta nor any other person assumes
responsibility for the accuracy and completeness of the forward-looking
statements included in this press release. Any forward-looking statement
included in this press release speaks only as of the date on which it
was made. Magenta undertakes no obligation to publicly update or revise
any forward-looking statement, whether as a result of new information,
future events or otherwise.