Company (location)

Type of financing

Number of shares, units or warrants (M)

Amount raised (US$M)

Investors; placement agents; details

Date

Total: $1,135.37M

Aerie Pharmaceuticals Inc. (Durham, N.C.)

Private placement

N/A

$316.25

$275M aggregate principal amount of its 1.50% convertible senior notes due 2024; later in September, initial purchasers elected to fully exercise their option to purchase an additional $41.25M aggregate principal amount of the notes

9/10/19

Aeterna Zentaris Inc. (Charleston, S.C.)

Registered direct offering

3.325S and W for 3.325S

$5.00

Securities purchase agreement with institutional investors to purchase about $5M of common shares in a registered direct offering and warrants to purchase common shares in a concurrent private placement at a combined purchase price of $1.50; Aeterna agreed to sell 3.3M shares and to issue warrants to purchase up to an aggregate of 3.3M common shares with Maxim Group LLC as sole placement agent

9/23/19

Apellis Pharmaceuticals Inc. (Crestwood, Ky.)

Private offering of convertible senior notes

N/A

$220.00

Private offering of $220M aggregate principal amount of 3.5% convertible senior notes due 2026. The initial purchasers of the notes have been granted a 13-day overallotment option to purchase up to an additional $33M of the notes

9/13/19

Arcturus Therapeutics Inc. (San Diego)

Registered direct offering

0.85

$9.80

Agreements with certain institutional investors for the purchase and sale in a registered direct offering of 850,000 shares at a price of $11.50 per share for $9.8M

9/26/19

Aurinia Pharmaceuticals Inc. (Victoria, British Columbia)

At-the-market offering

N/A

$40.00

Open market sales agreement with Jefferies LLC providing the facility to sell, through at-the-market (ATM) share offerings, up to $40M

9/17/19

Benitec Biopharma Ltd. (Melbourne, Australia)

Registered direct offering

2.8ADS

$2.25

Securities purchase agreement with certain U.S. investors to issue, in a registered direct offering, 2.8M ADSs at a purchase price of 70 cents per ADS for approx. $2.25M

9/30/19

Benitec Biopharma Ltd. (Melbourne, Australia)

Private placement

3.21ADS

N/A

Additional warrants to the Investors to purchase up to a further 3,212,864 ADSs

9/30/19

Bioasis Technologies Inc. (Guilford, Conn.)

Private placement

Units

$4.00

Brokered private placement financing of units for approx. $4M

9/25/19

Biocurepharm Korea

Convertible debt financing

4U

$0.33

Biocurepharm Korea, a subsidiary of Biocure Technology Corp., closed a convertible debt financing issuing 4 units at C$111,400 per unit for C$445,600 (US$335,000)

9/20/19

Briacell Therapeutics Corp. (Berkeley, Calif.)

Private placement

12.09S

$0.64

Upsized and closed its nonbrokered private placement of 12.09M common shares at C7 cents per common share for gross proceeds of C$846,300 (US$644,152)

9/11/19

Briacell Therapeutics Corp. (Berkeley, Calif.)

Private placement

8.6S

$0.45

Nonbrokered private placement of up to about 8.6M shares for up to about C$600,000 (US$453,461) at a price per common share of C7 cents

9/23/19

Collplant Biotechnologies Ltd. (Rehovot, Israel)

Convertible loan

N/A

$5.50

Closed a nonbrokered private placement of $5.5M in convertible loans with a group of U.S. accredited investors purchasing $3.5M of the convertible loans, and its largest shareholder, Ami Sagi, purchasing $2M of the loans. An additional $1M investment will be made by Sagi following the execution of a license and/or a co-development agreement between the company and a strategic business partner

9/4/19

Cormedix Inc. (Berkeley Heights, N.J.)

Warrant exercise

1.2S

$4.90

Reduce the exercise price on 1.2M of its series B warrants expiring August 2022 from the current exercise price of $5.25 to $4 in return for their immediate exercise for $4.9M

9/27/19

Inventiva SA (Daix, France)

Shares issue

N/A

$9.06

€8.2M (US$9.06M) raised by selling shares to New Enterprise Associate, BVF Partners LP and Novo Holdings A/S

9/20/19

Lineage Cell Therapeutics Inc. (Carlsbad, Calif.)

Share issue

4S

$6.60

Priced 4M shares of common stock of Oncocyte Corp. at $1.66 per share, for gross proceeds of $6.6M. The Special Equities Group LLC, a division of Bradley Woods & Co. Ltd., acted as exclusive placement agent.

9/12/19

Novan Inc. (Morrisville, N.C.)

Stock purchase

7.03S

$25.00

Aspire Capital Fund LLC committed to purchase up to $25M of Novan's shares through a common stock purchase agreement

9/5/19

Onconova Therapeutics Inc. (Newtown, Pa.)

Registered direct offering

2.1S

$3.40

Securities purchase agreements with institutional and accredited investors for a registered direct offering of approx. 2.1M common shares priced at $1.60 apiece for approx. $3.4M

9/24/19

Optinose Inc. (Yardley, Pa.)

Note purchase

N/A

N/A

Note purchase agreement for up to $150M of senior secured notes with funds managed by Pharmakon Advisors LP. At closing, Optinose issued $80M (used to repay and retire the company's existing senior secured notes with Athyrium Opportunities III Acquisition LP) of senior secured notes with an additional $30M to be issued by Feb. 15, 2020, subject to the achievement of minimum sales of Xhance. Two additional tranches of notes of $20M each will be available to Optinose, at its option, in 2020 and 2021

9/16/19

PDL Biopharma Inc. (Incline Village, Nev.)

Convertible Senior Note Exchange

N/A

N/A

Separate privately negotiated transactions to exchange approximately $86.1M in aggregate principal amount of its 2.75% convertible senior notes due 2021 for approximately $86.1M of new 2.75% convertible senior notes due 2024, together with an aggregate of approximately $6M of cash. PDL will not receive any cash proceeds from the Exchange.

9/16/19

Proteon Therapeutics Inc. (Waltham, Mass.)

Stock purchase

N/A

$42.50

$42.5M financing led by a syndicate of health care investors

9/25/19

Provention Bio Inc. (Oldwick, N.J.)

Private placement

2.5S

$20.00

Sold 2.5M shares at $8 per share to Amgen Inc., of Thousand Oaks, Calif., for $20M in private placement

9/20/19

PTC Therapeutics Inc. (South Plainfield, N.J.)

Private offering of convertible senior notes

N/A

$250.00

Private offering of $250M aggregate principal amount of its convertible senior notes due 2026 and granted to the initial purchaser a 30-day option to purchase up to an additional $37.5M of the notes

9/19/19

Resverlogix Corp. (Calgary, Alberta)

Loan agreement

N/A

$0.50

Amending agreement with Third Eye Capital to extend the maturity date of its senior secured term loan from Sept. 16 to Sept. 27 and, in connection, paid an amendment fee of $50,000

9/17/19

Resverlogix Corp. (Calgary, Alberta)

Debenture financing

N/A

N/A

10% secured convertible debenture in the principal amount of $12M; The proceeds used to repay senior secured term loan with Third Eye Capital

9/27/19

Scpharmaceuticals Inc. (Burlington, Mass.)

Loan agreement

N/A

N/A

Restructured four-year $20M term loan with Solar Capital Ltd. and Silicon Valley Bank, with all the funds drawn at closing. The proceeds from the loan will be used to pay off an existing $10M term loan along with related fees and expenses, and to provide additional working capital for general corporate purposes

9/19/19

Sernova Corp. (London, Ontario)

Private placement

Units

$2.25

Completed a second closing of $2,251,065 of its non-brokered private placement

9/4/19

Sernova Corp. (London, Ontario)

Private placement

Units

$3.56

Nonbrokered private placement of C$4.685M (US$3.564M) at C20 cents each

9/11/19

Spring Bank Pharmaceuticals Inc. (Hopkinton, Mass.)

Convertible debt financing

N/A

$20.00

$20M convertible debt financing agreement with Pontifax Medison Finance

9/5/19

Vaxil Bio Ltd. (Ness Ziona, Israel)

Private placement

25S

$0.56

Nonbrokered private placement of up to 25M common shares at C4 cents per share for gross proceeds of up to C$750,000 (US$568,372)

9/12/19

Xeris Pharmaceuticals Inc. (Chicago)

Loan and security agreement

N/A

$60.00

Amended and restated loan and security agreement with Oxford Finance LLC and Silicon Valley Bank for up to $85M with $60M drawn at the initial funding date, and additional tranches of $15M and $10M available for drawdown prior to March 31, 2021 and June 30, 2021, respectively

9/11/19

Zealand Pharma A/S (Copenhagen)

Private placement and directed share issue

3.97S

$82.82

Completed a private placement and directed share issue of approx. 4M shares at DKK140.79 (US$20.83) to Van Herk Investments BV for approx. DKK559.6M (US$82.82M)

9/6/19


Notes

Currency conversions are based on exchange rates at the time of the deal.

This chart includes only biotech companies that develop therapeutics.

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