Adaptive Phage Therapeutics Inc., of Gaithersburg, Md., said it closed an oversubscribed, nonbrokered financing, raising approximately $7 million in proceeds that will be deployed to support multicenter phase II studies for its Phagebank therapy for antibiotic-resistant bacterial infections. The company described its core asset as a large and continually expanding phage library deployed with a companion diagnostic to achieve rapid response and cost-effective therapy for otherwise recalcitrant bacterial infections.
Aprea Therapeutics Inc., of Boston, said its IPO of 6.51 million shares, a total that includes the exercise in full by the underwriters of their option to purchase an additional 850,000 shares at $15 each, has closed. The offering raised $97.75 million in gross proceeds. The shares are trading on Nasdaq under the symbol APRE.
Prokarium Ltd., of London, said it received an investment of £4.59 million (US$5.6 million) from the Wellcome Trust to support two clinical trials of its lead program, Entervax, a bivalent vaccine against enteric fever. Specifically, the funds will be used for a U.K. phase I study designed to evaluate the safety and immunogenicity of the bivalent vaccine, and a phase Ib age-descending, dose-escalation study in an endemic region in South Asia. The company plans to start dosing in the first half of next year.
Sorrento Therapeutics Inc., of San Diego, said it entered definitive agreements with several health care-focused institutional investors for the purchase in a registered direct offering of 10.86 million shares and warrants to purchase up to 10.89 million shares at a combined purchase price of $2.30 per share and related warrant, which will have an exercise price of $2.40 per share. The gross proceeds are expected to be approximately $25 million, and Sorrento intends to use the net proceeds for the continued clinical development of its RTX and CD38 CAR T programs and general research and development, working capital and general corporate purposes.
Viela Bio Inc., of Gaithersburg, Md., said it closed its IPO of 9.08 million shares, a total that includes 1.18 million shares sold from the exercise in full by the underwriters of their option to purchase additional shares, at $19 each. The gross proceeds were approximately $172.6 million.