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Genome editing startup Beam Therapeutics was already trying to go public in a tough market for biotech companies. This week brought a new complication: explaining to potential investors why your co-founder just launched a rival startup.

Beam is based on a newfangled approach to CRISPR called base editing, invented by Broad Institute researcher David Liu, that allows scientists to change individual letters of DNA. The two-year-old company, which counts Liu as a co-founder, filed to raise $100 million in an initial public offering in September.

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