Beigene Ltd., of Waltham, Mass., part of Beigene Co. Ltd., of Beijing, said it closed a follow-on public offering of 6.25 million American depositary shares (ADSs), each representing 13 of its ordinary shares at $32 per ADS. In total the company offered 5.781 million ADSs, and certain selling shareholders offered 468,750. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 937,500 ADSs. The company intends to use proceeds for working capital and general corporate purposes, including research and development activities. Morgan Stanley, Goldman, Sachs & Co. and Cowen and Co. acted as joint book-running managers. Baird and William Blair & Co. LLC acted as co-managers.
Galera Therapeutics Inc., of Malvern, Pa., said it received $15 million in funding from new investor Sofinnova Ventures, which brings its series B financing round total to $57 million. The proceeds will be used to prepare the company's lead product candidate, GC4419, for phase III registration studies. The compound is currently in a randomized, placebo-controlled phase IIb trial to evaluate its effects on the incidence, duration and intensity of severe oral mucositis in head and neck cancer patients undergoing chemo-radiation therapy. Additionally, the funds will be used to further develop the company's pipeline of selective dismutase mimetics.
Immunovaccine Inc., of Halifax, Nova Scotia, said it entered an agreement with a syndicate of underwriters led by Echelon Wealth Partners Inc., who will purchase, on a bought-deal basis, 10.6 million common shares at $0.75 each for gross proceeds of $8 million. The underwriters also have an option to purchase up to an additional 50 percent of the common shares at the issue price. Echelon has the option to purchase up to an additional 15 percent of the common shares.The net proceeds will be used by for general corporate and working capital purposes.
Themis Bioscience GmbH, of Vienna, said it closed a €10 million (US$10.6 million) series B financing round, which will be used to complete a phase II trial of its lead product, a vaccine candidate against Chikungunya fever. Further products that will be supported include a Zika virus vaccine whose development received significant financial support by Innovate UK. The investment round included participation from the company's existing investors Ventech, Omnes Capital and Wellington Partners, with the latter leading the round.
Theratechnologies Inc., of Montreal, said it filed and obtained a receipt for a final short-form prospectus for a previously announced underwritten offering of 5.32 million common shares at $3.10 per share for gross proceeds of $16.5 million. The company has also granted the underwriters an option to purchase up to 798,450 additional shares.