Asit Biotech SA, of Brussels, Belgium said it placed senior, unsecured convertible notes for a total of €9.225 million (US$10.3 million) via a private placement, in the context of a book-building procedure organized by the company and Bryan, Garnier & Co. Ltd. as bookrunner. Asit intends to use the net proceeds for the clinical development of its immunotherapy product candidates.
Avrobio Inc., of Cambridge, Mass., closed its previously announced public offering of about 7.5 million shares, including 975,000 shares sold as part of the underwriters' exercising their full option to purchase additional shares. The offering grossed the company $138.3 million, which it plans to use for its current programs in Fabry disease, Gaucher disease, cystinosis and Pompe disease, as well as to fund external and internal manufacturing and process development activities and for other general corporate purposes. Morgan Stanley, Cowen and Wells Fargo Securities acted as joint book-running managers, Guggenheim Securities acted as lead manager and Wedbush Pacgrow and H.C. Wainwright & Co. acted as co-managers.
Genmab A/S, of Copenhagen, said it closed its IPO of American depositary shares, increasing its share capital by about 2.9 million ordinary shares as a consequence. Total gross proceeds, including overallotments, were about $581.8 million. (See BioWorld, June 22, 2019.)
Ocuphire Pharma Inc., of Farmington Hills, Mich., closed a financing of more than $5 million, which will be used to fund multiple clinical trials of Nyxol, an ophthalmic formulation of the approved alpha-1 and alpha-2 inhibitor phentolamine mesylate. The investments came from RBI Opportunities Fund, Belle Capital Fund, Grand Angels Fund, First Capital Fund, Michigan Angel Fund, Biosciences Research and Commercialization Center, Ann Arbor Angels, Woodward Angels, Kalamazoo Angels, Bluewater Angels and other individual and institutional investors.
Rapt Therapeutics Inc., of South San Francisco, plans to sell 5 million shares at a range of $14 to $16 in an IPO, netting the company $66 million at the midpoint of the range, or $76.4 million if the underwriters exercise their option to purchase an additional 750,000 shares. Rapt plans to use the proceeds to fund development of FLX-475, which inhibits the migration of immunosuppressive Treg into tumors, RPT-193, which inhibits the migration of Th2 cells into allergically inflamed tissues, its GCN2 and HPK1 programs and for general corporate purposes. BofA Merrill Lynch, Wells Fargo Securities, BMO Capital Markets and UBS Investment Bank are the joint bookrunners for the deal.
Repligen Corp., of Waltham, Mass., closed its previously announced public offering of 1.587 million shares at $87 per share, grossing the company $138.1 million, and its $287.5 million aggregate principal amount of 0.375% convertible senior notes due 2024, which included the underwriters exercising their option to purchase 207,000 shares and $37.5 million additional notes. After fees, the company expects to net approximately $278.4 million from the offering. Repligen used approximately $68.7 million from the capital raise and about 1.38 million shares to settle a portion of its previously announced exchanges for about $68.5 million aggregate principal amount of its existing 2.125% convertible senior notes due 2021. The company plans to redeem the remaining notes that have not been converted, repurchased or exchanged on Sept. 23, 2019. The remaining proceeds from the capital raise will be used for working capital and other general corporate purposes.
Retrotope Inc., of Los Altos, Calif., closed a $20 million series C financing that was co-led by new investor Mehta Family Partners and current shareholder Timur Artemev. Other insiders re-invested, along with new investor Morningside Venture Investments Ltd. Retrotope plans to use the proceeds to fund two pivotal studies of RT-001, a deuterated polyunsaturated fatty acids, in infantile neuroaxonal dystrophy and Friedreich's ataxia.