Aerie Pharmaceuticals Inc., of Durham, N.C., said the initial purchasers of its private offering of 1.5% convertible senior notes due 2024 have elected to fully exercise their option to purchase an additional $41.25 million aggregate principal amount of the notes. Following the closing, there will be a total of $316.25 million of the notes outstanding. The company intends to use approximately $4.3 million of the net proceeds from the sale of additional notes to pay the cost of additional capped call transactions and the remainder for general corporate purposes, including U.S. commercialization programs for both Rhopressa (netarsudil) for open-angle glaucoma or ocular hypertension, and Rocklatan (netarsudil and latanoprost), a once-daily intra-ocular pressure-lowering eye drop for patients with open-angle glaucoma.
Ermium Therapeutics, of Paris, said it completed a series A funding of €6.3 million (US$6.9 million) with Strasbourg, France-based Domain Therapeutics SA, Kurma Partners, Idinvest and the SATT Erganeo. The proceeds will support the optimization efforts of the company's chemical series and the early development of an innovative class of immunomodulators for the treatment of autoimmune diseases. Ermium said its molecules are the first that can target a newly identified active area on the CXCR4 receptor to inhibit the overproduction of inflammatory cytokines, including type 1 interferons.
Lineage Cell Therapeutics Inc., of Carlsbad, Calif., said it priced 4 million shares of common stock of Oncocyte Corp. at $1.66 per share, for gross proceeds of $6.6 million. Following completion of the sale, set to close Sept. 13, Lineage will own about 16% or 8.4 million shares of Oncocyte's outstanding stock. Lineage, which has agreed not to sell additional shares of Oncocyte stock until Jan. 1, 2020, or unless the stock is above $3, said the latest transaction is part of a larger strategy to raise operating capital from time to time to support its three clinical-stage cell therapy programs through sources other than Lineage common stock. The Special Equities Group LLC, a division of Bradley Woods & Co. Ltd., acted as exclusive placement agent.
Monopar Therapeutics Inc., of Wilmette, Ill., has established terms for a $40 million IPO and plans to offer 4.44 million shares priced between $8 and $10 each. The funds will help advance into phase III its mucobuccal tablet of the adrenergic alpha2 agonist clonidine, branded Validive, for severe oral mucositis in patients undergoing radiotherapy for oropharyngeal cancer. It has applied to list its shares on Nasdaq under the symbol MNPR. (See BioWorld, Aug. 19, 2019.)
Vaxil Bio Ltd., of Ness-Ziona, Israel, said it intends to complete a nonbrokered private placement of up to 25 million common shares at CA4 cents per share for gross proceeds of up to CA$750,000 (US$568,372), which are intended to be used to advance clinical programs, including formulation, in vitro screening and efficacy testing.
Zealand Pharma A/S, of Copenhagen, said following a private placement and directed issue of 3.975 million of new ordinary shares of the company, it has increased its share capital by DKK3.975 million (US$586,586) and the gross proceeds from the issuance of the new shares amounted to DKK559.6 million.