Alliqua Biomedical Inc., of Yardley, Pa., said it closed its underwritten offering of 9.47 million shares of its common stock at 40 cents each for gross proceeds of approximately $3.8 million. The company said it intends to use the net proceeds primarily for working capital and general corporate purposes, and to pay its monthly obligations under its credit agreement with Perceptive Credit Opportunities Fund LP.
Biophytis SA, of Paris, said it gathered funding to conduct its phase IIb SARA-OBS/SARA-INT study testing lead product Sarconeos in sarcopenia. A capital increase subscribed by several private investors among which Bracknor Fund, and the management, of an amount of €3.7 million (US$3.9 million) was completed by issuing 1.3 million new shares at a price of €2.85 per share. Secondly, a line of funding that could reach €15 million was set up with Bracknor Fund in the form of 1,500 note warrants for bonds redeemable in cash or new or existing shares, at a par value of €10,000 each, combined with share subscription warrants.
Lakewood-Amedex Inc., of Sarasota, Fla., said it raised $2.9 million in a private placement, some of which will be used to fund IND-enabling preclinical studies for its Nu-8 candidate, with an initial target indication of catheter-acquired urinary tract infection (CAUTI). The firm said it is advancing its second bisphosphocin candidate toward clinical development in 2017 after reporting in vitro data confirming the mechanism of action of its Bisphosphocin class of antimicrobial compounds, as well as the greater potency of its Nu-8 compound against clinically pathogenic bacteria under conditions that make it suitable as a therapy for specific localized treatment of infections in certain organs. Data showed Nu-8 was highly active against strains of E. coli and P. aeruginosa, collectively responsible for the majority of CAUTI and recurrent bladder infections.
Provectus Biopharmaceuticals Inc., of Knoxville, Tenn., said it entered definitive agreements with the PRH Group – comprising of a group of the company's stockholders. The company's board has decreased from five to four directors until such time as the third PRH Group-nominated director is appointed in accordance with the definitive financing. Three former members of Provectus' board resigned upon the PRH Group's funding into escrow of its first financing tranche of $2.5 million and upon the draw-down by Provectus of the remainder of the $2.5 million investment commitment from Eric Wachter, co-founder and chief technology officer. The company also said it adopted the basic tenets of the PRH Group's fundamental strategy for the company: change the direction and control of the board, complete a tranche-based capital formation program, and fortify the management team to support the clinical development program as well as business and corporate development opportunities.
Sentien Biotechnologies Inc., of Cambridge, Mass., said it closed a $12 million series A investment round co-led by Boehringer Ingelheim Venture Fund USA Inc. and Bioinnovation Capital, and joined by Chiesi Ventures, MBL Venture Capital Co. Ltd. and Mass Medical Angels. Funds will be used for initial clinical development of Sentien's SBI-101 for the treatment of acute kidney injury. SBI-101 is a product that combines mesenchymal stromal cells (MSCs) within an approved blood-filtration device, allowing for controlled, sustained delivery of MSC-secreted factors. In conjunction with the financing, Johannes Fruehauf and Giacomo Chiesi will join Sentien's board.
Therapix Biosciences Ltd., of Tel Aviv, Israel, said the underwriters of its previously announced public offering of 2 million American depository shares (ADSs), each ADS representing 40 ordinary shares of the company, have exercised their option to purchase an additional 300,000 ADSs, at $6 each, bringing total gross proceeds from the offering to $13.8 million. The company plans to use the net proceeds to advance the formulation and clinical development efforts for its two lead product candidates and for working capital and other general corporate purposes.
Tonix Pharmaceuticals Holding Corp., of New York, said it closed its public offering of 1.8 million shares of common stock priced at $4.45 each for gross proceeds of about $8 million. Tonix intends to use the net proceeds to support the continued development of TNX-102 SL for the treatment of post traumatic stress disorder (PTSD), including the HONOR study in military-related PTSD, to further develop other pipeline programs, for working capital and other general corporate purposes. Aegis Capital Corp. acted as the sole book-running manager and Dawson James Securities Inc. acted as a co-manager.
Verona Pharma plc, of London, which is focused on developing and commercializing therapeutics for the treatment of respiratory diseases with significant unmet medical needs, said it filed a registration statement on Form F-1 with the SEC to conduct a proposed IPO of its American depositary shares (ADSs), representing ordinary shares, in the U.S. and a proposed concurrent private placement of its ordinary shares in Europe and other countries outside of the U.S. and Canada. The number of ordinary shares to be represented by each ADS, the number of ADSs and ordinary shares to be offered and the price range for their offerings have not yet been determined. Verona has applied to have its ADSs listed on Nasdaq under the symbol VRNA.
Veloxis Pharmaceuticals A/S, of Copenhagen, said its capital has been increased by 1 million new shares with a nominal value of DKK0.10 (US1.4 cents) each corresponding to nominally DKK100,000 as a consequence of the exercise of warrants by former employees of the company granted under the warrant program. Proceeds to the company will amount to DKK350,000 (US$50,167).
Viracta Therapeutics Inc., of San Diego, reported the initial close of a series B preferred financing round of up to $18.4 million with Nantkwest Inc., of Culver City, Calif., as the lead investor. Also joining the round is new investor Wicklow Capital as well as founding investors, Latterell Venture Partners and Forward Ventures. Concurrent with the financing, Viracta agreed to the terms of an exclusive license of its phase II drug candidate, VRx-3996, to Nantkwest for use in combination with its platform of natural killer cell therapies. Viracta will use the funding to advance VRx-3996, a class 1 histone deacetylase inhibitor, into phase II studies for the treatment of Epstein-Barr virus-associated malignancies via their viral gene activation therapeutic approach.