Cardurion Pharmaceuticals Inc., of Boston, said it completed a private placement investment from Polaris Partners, which joins existing investor Takeda Pharmaceutical Co. Ltd., of Osaka, Japan. The amount of the placement was not disclosed. Cardurion is developing drugs to treat cardiovascular diseases, with lead program CRD-733, a PDE9 inhibitor, in development for heart failure. Amy W. Schulman, managing partner at Polaris, will join Cardurion’s board.
Checkpoint Therapeutics Inc., of New York, priced its public offering of 13.4 million shares at $1.27 apiece for gross proceeds of about $17 million. Underwriters were granted a 45-day option to purchase up to an additional 2 million, which would increase the proceeds to about $19.6 million. Funds will be used primarily to support continued development of cosibelimab, including an ongoing phase I trial in checkpoint therapy-naïve patients with selected recurrent or metastatic cancers, including ongoing cohorts intended to support one or more BLA submissions, and for general corporate purposes. National Securities Corp., a wholly owned subsidiary of National Holdings Corp., is acting as sole book-running manager, and H.C. Wainwright & Co. LLC is acting as lead manager. Shares of Checkpoint (NASDAQ:CKPT) closed Wednesday at $1.30, down 20 cents.
Crispr Therapeutics AG, of Zug, Switzerland, commenced a public offering of about 4.25 million shares, granting underwriters a 30-day option to purchase up to an additional 637,500 shares. Share price has not yet been disclosed. Goldman Sachs & Co. LLC, Piper Jaffray & Co. and Jefferies LLC are acting as joint book-running managers. The stock (NASDAQ:CRSP) closed Wednesday at $67.42, down $1.04. Crispr reported positive data earlier this week from initial patients in its phase I trials testing gene editing therapy CTX-001 in beta-thalassemia and sickle cell disease.
Global Healthcare Opportunities, or GHO Capital Partners LLP, a European specialist investor in health care, announced the final close of its second fund, GHO Capital Fund II LP, at its hard cap of €975 million (US$1.08 billion). The investor said the fund, which initially targeted €800 million, aims to develop an untapped market opportunity within specialist, high-growth health care subsectors, including pharma, med tech and outsourced services, through growth buyout investments.
Lucence Diagnostics Pte Ltd., of Singapore, said it closed $20 million in series A funding, led by IHH Healthcare. SGInnovate, together with existing investors Temasek Holdings subsidiary Heliconia Capital, Lim Kaling and Koh Boon Hwee, also participated in the round. The company said the funding will enable it to provide its liquid biopsy technology to more patients across Asia and North America for personalized treatment selection. Lucence will also embark on new prospective clinical studies to evaluate its technology for the early detection of multiple cancers.
Nextcure Inc., of Beltsville, Md., closed its public offering of about 4.1 million shares priced at $36.75 apiece for gross proceeds of about $150 million. Morgan Stanley, BofA Securities and Piper Jaffray & Co. acted as joint book-running managers, while Needham & Co. and BTIG acted as co-managers.
Novaquest Capital Management LLC, of Raleigh, N.C., announced the final close for Novaquest Private Equity Fund I LP with $275 million in total capital commitments. Fund I will continue Novaquest’s focus on investing in and building leading services and technologies in the health care and life sciences sector with a dedicated private equity platform.
Organogenesis Holdings Inc., of Canton, Mass., a regenerative medicine company, said it is offering to sell 9 million shares of its class A common stock in a public offering. It also intends to grant underwriters a 30-day option to purchase up to an additional 1.35 million shares. Credit Suisse Securities (USA) LLC and SVB Leerink LLC are acting as joint book-running managers, and BTIG LLC and Oppenheimer & Co. Inc. are acting as co-managers.
Phoenix Molecular Designs Inc., of San Diego, completed a recent seed round, resulting in a total raised to date of $12 million. Funds will continue to be used for preclinical and clinical advancement of lead product candidate PMD-026, a potentially first-in-class orally available RSK inhibitor. PMD-026 is being developed as a platform technology to treat resistant forms of cancer, such as metastatic breast cancer and, more specifically, triple-negative breast cancer. Investors in the financing round included Pallasite Ventures and World Changing Ventures.
Predictive Oncology Inc., of Minneapolis, said it entered a $15 million common stock purchase and registration rights agreement with Oasis Capital LLC, a Puerto Rico limited liability company, to purchase up to $15 million of the company’s common stock. Under the terms, Predictive Oncology has the right to sell stock to Oasis over a 36-month period, upon satisfaction of conditions in the purchase agreement including the effectiveness of a resale registration statement which has occurred. The equity line is designed to provide a capital runway. Predictive Oncology works to apply artificial intelligence to personalized medicine and drug discovery.
Tonix Pharmaceuticals Holding Corp., of New York, closed its public offering, with gross proceeds totaling about $9 million. A.G.P./Alliance Global Partners acted as the sole book-running manager.
Xoma Corp., of Emeryville, Calif., said it intends to commence a rights offering, in which the company aims to raise about $22 million through the distribution of rights to holders of its common stock, series X preferred stock and series Y preferred stock, which will entitle the holders to purchase shares at $22 per share. The rights offering will be fully backstopped by BVF Partners LP, the company's largest stockholder, or its assignee/transferee, which has agreed to purchase at a minimum its as-converted pro rata share of the offering amount, plus an additional amount of securities that are not subscribed for by other purchasers in the rights offering for a total of up to $22 million. Shares of Xoma (NASDAQ:XOMA) closed at $25.12 Wednesday, down 91 cents.