Ilya Pharma AB, Uppsala, Sweden, said it raised an additional €3 million (US$3.48 million) in a new targeted share issue, which will facilitate continued growth and take the company through the first clinical study and planning of an upcoming phase II study of drug candidate ILP-100 for faster wound healing. The company has developed a technology platform based on the use of living lactic acid bacteria.
Kodiak Sciences Inc., of Palo Alto, Calif., said it filed a registration statement with the SEC to conduct an IPO of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. At the end of last month, the company said it started dosing in a phase I safety and tolerability study of KSI-301, the first of Kodiak's pipeline of antibody biopolymer conjugate products to reach the clinic. The compound is targeted for the treatment of patients with retinal vascular diseases, including neovascular age-related macular degeneration and diabetic eye disease. The company intends to list its common stock on Nasdaq under the ticker symbol KOD.
Sorrento Therapeutics Inc., of San Diego, said its majority-owned subsidiary, Scilex Pharmaceuticals Inc., closed a debt financing with global institutional investors for gross proceeds of $140 million. It intends to use the net proceeds for working capital and general corporate purposes related to commercialization of Ztlido (lidocaine topical system) 1.8 percent, indicated for the relief of pain associated with postherpetic neuralgia.