Aytu BioScience Inc., of Englewood, Colo., said it entered into definitive agreements with institutional investors Altium Capital and Armistice Capital for the purchase and sale in a private placement of $10 million of series F convertible preferred stock and warrants to purchase common stock.
Forbius Inc., of Austin, Texas, said it has completed a series C financing led by HBM Partners with participation from new and existing investors. The funds will support its clinical programs, developing biotherapeutics to treat fibrosis and cancer, into 2021.
Galera Therapeutics Inc., of Malvern, Pa., has filed to raise up to $86 million in an IPO. The company, which is developing radiotherapies, said its lead product candidate, GC-4419, is a highly selective small-molecule dismutase mimetic targeting the reduction of severe oral mucositis. In October last year, the compound was entered into a phase III registrational trial with top-line data expected in the first half of 2021. The company has applied to list its shares on the Nasdaq under the ticker symbol GRTX.
Sotio, of Prague, Czech Republic, said its majority owner, PPF Group, has committed to investing $6.5 million in Palo Alto-based Maverix Oncology Inc.'s ongoing $20 million series A financing round, which will enable Maverix to advance its lead program MVX-5005 through IND-enabling studies, and complete first-in-human phase Ia/Ib trials for the treatment of solid tumors in support of clinical proof-of-concept. The company will also advance further platform programs to drug candidate selection. Sotio, which is developing new therapies focusing on the treatment of cancer and autoimmune diseases, has secured an option to license and co-develop MVX-5005 and related next-generation compounds in Europe, contingent on completion of the first phase I trial. Upon exercise of the option, the companies will collaborate and share the costs for development of MVX-5005 and Maverix will become eligible to receive up to $138 million in development, regulatory and commercial milestones if MVX-5005 is successfully developed in multiple cancer indications in Europe. Further terms on the investment and option to license were not disclosed.