Aurinia Pharmaceuticals Inc., of Victoria, British Columbia, said it entered an open market sales agreement with Jefferies LLC providing the facility to sell, through at-the-market (ATM) share offerings, up to $40 million. Jefferies, at Aurinia's discretion and instruction, will use its commercially reasonable efforts to sell the common shares at market prices from time to time. Sales in the ATM offering will only be conducted in the U.S. The company currently intends to use the proceeds from the ATM offering, if any, to fund its operations.
Edigene Inc., of Beijing, said it completed an $11 million series pre-B2 financing round with series A lead investor IDG Capital and series pre-B lead investor Lilly Asia Ventures participating. Separately, the company said it has formed a research collaboration with a clinical-stage biopharmaceutical company developing T-cell therapies to explore new allogeneic T-cell therapeutic approaches for cancer. Financial terms were not disclosed.
Mission Bay Capital, of San Francisco, an early stage life sciences venture capital firm, closed its third fund at $60 million, with investors including Astellas Venture Management, Banyan Pacific Capital, Indianapolis-based Eli Lilly and Co., Mayfield, UC Investments, Wilson Sonsini Goodrich & Rosati and Zambon, as well as long-time limited partners and family offices.
Resverlogix Corp., of Calgary, Alberta, which is developing apabetalone (RVX-208), a small-molecule selective BET inhibitor for cardiovascular disease, said it entered an 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. Of the original $30 million loan, the remaining principal balance is about $11.5 million. The company said it intends to repay the loan on or before maturity.