4D Molecular Therapeutics Inc., of Emeryville, Calif., has filed to raise up to $100 million in an IPO to support the development of targeted therapies based on next-generation AAV vectors. The company recently reported preclinical data for its 4D-C102 vector at the 6th International Update on Fabry Disease in Prague, Czech Republic. 4D-C102 had better transduction in human cardiomyocytes in vitro compared to AAV1, AAV8 and AAV9. 4D-C102 was superior to AAV8 and AAV9 in nonhuman primate cardiac tissue in vivo. 4D-310, which uses the 4D-C102 vector, produced dose-dependent expression and function of alpha-galactosidase A in vitro in Fabry patient fibroblasts. The company has applied to list its shares on Nasdaq under the ticker symbol DDDD.
Acerus Pharmaceuticals Corp., of Toronto, said it entered an amended agreement related to its existing credit facility with SWK Funding LLC and received a waiver letter related to certain financial covenants for the third quarter of 2019. The amendment sets the minimum threshold for consolidated unencumbered liquid assets required to be maintained by the company at $1 million at Sept. 30; $5 million at Dec. 15; $4 million at Dec. 31; $2 million at Jan. 31, 2020, and $1 million at all times after Jan. 31, 2020. In connection with the amendment, Acerus agreed to reprice 5.33 million outstanding common share purchase warrants currently held by SWK from CA40 cents (US30 cents) to CA11 cents. In addition, their expiry date has been extended from Oct. 11, 2023, to Sept. 30, 2024. Subject to the approval of the TSX, Acerus will issue 1.36 million common share purchase warrants to SWK in connection with the amendment. Each new warrant will entitle SWK to purchase one common share of Acerus at CA11 cents per common share.
Cabaletta Bio Inc., of Philadelphia, has filed to raise up to $100 million in an IPO. Its technology utilizes chimeric autoantibody receptor T cells that are designed to selectively bind and eliminate B cells that produce disease-causing autoantibodies. The company said it has submitted an investigational new drug application to the FDA for pemphigus vulgaris (PV), an autoimmune blistering skin disease. It plans to advance lead product candidate DSG3-CAART into a phase I trial for the treatment of mucosal PV in 2020. The company has applied to list its shares on Nasdaq under the symbol CABA.
Constellation Pharmaceuticals Inc., of Cambridge, Mass., said it entered a securities purchase agreement with a group of institutional investors, led by Venrock Healthcare Capital Partners and including Bain Capital Life Sciences and affiliates of the Column Group, for the private placement of $65 million by selling 7.64 million shares at $8.50 each. The company expects to use net proceeds to fund research and development expenses as well as for working capital and other general corporate purposes.
FSD Pharma Inc., of Toronto, said it closed an initial tranche of the private placement, raising gross proceeds of CA$4.58 million (US$3.46 million) by issuing an aggregate of 45.83 million shares. The company is extending the offering period and expects to close a second and final tranche of the private placement by Oct. 31. The net proceeds will be used for the expansion of the company's biosciences division, including the research and development of PP-101 (micro-palmitoylethanolamide plus pregabalin), its preclinical drug candidate for the treatment of symptoms related to fibromyalgia, and for general corporate purposes, including working capital, potential investments and acquisitions.
Inventiva SA, of Daix, France, said it completed a capital increase of €625,000 (US$683,350) subscribed by Sofinnova Partners, through Sofinnova Crossover I SLP. The funds will be primarily used for general corporate purposes, including funding operations and the development of the company's products, especially lanifibranor and odiparcil in nonalcoholic steatohepatitis and mucopolysaccharidosis, respectively.
Phathom Pharmaceuticals Inc., of Buffalo Grove, Ill., has filed to raise up to $100 million in an IPO to support the development of treatments for gastrointestinal diseases. Its initial product candidate, vonoprazan, is an oral small-molecule potassium competitive acid blocker. It has been shown to have clinical benefits over standard-of-care treatments as a single agent in the treatment of gastroesophageal reflux disease and in combination with antibiotics for the treatment of H. pylori infection. In May, the U.S., European and Canadian rights to vonoprazan were licensed from Takeda Pharmaceutical Co. Ltd., of Osaka, Japan. The company has applied to list its shares on Nasdaq under the symbol PHAT. (See BioWorld, May 22, 2019.)