Amygdala Neurosciences Inc., of San Francisco, closed a $5.6 million financing to support the development of its aldehyde dehydrogenase 2 inhibitor, ANS-6637, through the completion of four phase II studies in opioid, alcohol and smoking/nicotine use disorders. The studies, one of which is currently enrolling patients, are scheduled to read out in 2020 and early 2021.
Anelixis Therapeutics Inc., of Cambridge, Mass., said it closed a financing led by Biotechnology Value Fund LP and other affiliates of BVF Partners LP. Additional financial terms were not disclosed. The company is developing a portfolio of antibodies blocking CD40 ligand activity as potential treatments for amyotrophic lateral sclerosis, organ and cellular transplantation, and autoimmune diseases.
Liminal Biosciences Inc., of Laval, Quebec, filed a registration statement with the SEC, which will allow the company to sell shares in an at-the-market offering under a previously filed shelf prospectus with Canadian securities regulatory authorities to sell up to CA$250 million (US$189 million) worth of shares. Liminal also filed a prospectus supplement in both Canada and the U.S. to register about 3.3 million common shares owned by funds managed by Consonance Capital Management.
H-Cyte Inc., of Tampa, Fla., raised $6 million selling preferred stock which may be converted into shares of common stock at approximately 41 cents per share. The investment was led by FWHC LLC. H-Cyte plans to use the funds to advance the development of its treatments for chronic lung diseases, such as chronic obstructive pulmonary disease. Shares of H-Cyte (OTCQB:HCYT) closed down 3.1 cents, or 11%, to 24.9 cents on Monday.
Nervgen Pharma Corp., of Vancouver, British Columbia, issued 1.5 million shares at $1 per share (CA$1.3231) to its manufacturing partner, CSBio, of Menlo Park, Calif., as a deposit for a $3 million order of Nervgen's protein tyrosine phosphatase-sigma inhibitor, NVG-291, which will be used in clinical programs scheduled to start in early 2020. Shares of Nervgen (OTCQX:NGENF) closed up 8.49 cents, or 7.1%, to $1.28 on Monday.
Nicox SA, of Sophia Antipolis, France, raised €12.5 million (US$13.85 million) by selling about 3.3 million shares. Nicox's leading shareholder, HBM Healthcare Investments, and other funds participated in the private placement. The company plans to use the proceeds to fund its phase III Mont Blanc study of NCX-470 in patients with glaucoma. Cantor and H.C. Wainwright & Co. are acting as joint lead placement agents for the financing, and Bryan, Garnier is acting as co-placement agent. Shares of Nicox (Euronext Paris:COX) closed down €0.35, or 7.9%, to €4.08 on Monday.
Promis Neurosciences Inc., of Toronto, completed the first closing of its previously announced private placement, issuing about 10.3 million units to raise approximately CA$2.06 million (US$1.56 million). Each unit consists of one share and a warrant to purchase an additional share.
Reata Pharmaceuticals Inc., of Plano, Texas, said it closed its public offering of 2.76 million shares of class A common stock, including 360,000 shares sold to cover underwriters' overallotments, priced at $183 per share for gross proceeds of about $505.1 million. Net proceeds will be used for working capital and general corporate purposes, which include advancing development of bardoxolone methyl and omaveloxolone through clinical trials, preparing to file NDAs for bardoxolone in Alport syndrome and omaveloxolone in Friedreich's ataxia, planning for potential commercialization, and making payments due under the firm's agreement with North Chicago-based Abbvie Inc. Citigroup, Jefferies, SVB Leerink and Stifel acted as the joint book-running managers, while Baird, Cantor and Ladenburg Thalmann acted as co-managers.