Agios Pharmaceuticals Inc., of Cambridge, Mass., priced a public offering of 2 million shares at $44 each and granted underwriters a 30-day option to purchase up to an additional 300,000 shares of common stock sold in the offering. J.P. Morgan Securities LLC and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Cowen and Co. LLC and Leerink Partners LLC are serving as co-managers. The company's shares (NASDAQ:AGIO) closed Thursday at $43.58, down $2.76.
Isarna Therapeutics GmbH, of Munich, Germany, raised €5.5 million (US$7.6 million) in equity from its current investors, including AT Newtec, Global Asset Funds and MIG Fonds. The company also said that Elizabeth Czerepak has joined Isarna's management team as chief financial and business officer to lead the company's new office location in New York.
Juno Therapeutics Inc., of Seattle, said it closed its series A round with $176 million in fully committed funds. The company's initial funding of $120 million came from Arch Venture Partners and the Alaska Permanent Fund. The company has now secured expansions from founding investors as well as investments from Bezos Expeditions and Venrock, among others. (See BioWorld Today, Dec. 5, 2013.)
Omni Bio Pharmaceutical Inc., of Denver, said it finalized a $3 million credit facility from its principal investor, Bohemian Investments LLC, to support ongoing operations and development for its lead program, the use of Fc fusion recombinant alpha-1 antitrypsin for the treatment of type 1 diabetes, graft-vs.-host disease and various inflammatory conditions, including chronic gout. The company will use the credit to support its optimization of cell lines and product manufacturing scale-up work.
Sarepta Therapeutics Inc., of Cambridge, Mass., said it expects to raise about $94.5 million in net proceeds through the sale of about 2.7 million shares of its common stock priced at $38 per share. The company intends to use the net proceeds from the offering for business development, manufacturing, the continued development of eteplirsen and other product candidates and other general corporate purposes. The company granted its underwriters, BofA Merrill Lynch, Morgan Stanley and Deutsche Bank Securities, a 30-day option to purchase up to an additional 397,500 shares and said it expects the offering to close on or about April 29. Baird, William Blair and Canaccord Genuity are acting as co-managers for the offering. Sarepta's shares jumped 39 percent earlier this week after the firm said the FDA indicated that a new drug application for eteplirsen is "fileable" based on existing data. Sarepta's stock (NASDAQ:SRPT) closed Thursday at $38.19, down 72 cents. (See BioWorld Today, April 22, 2014.)