Adocia SAS, of Lyon, France, said it subscribed to the second tranche of the financing line obtained from IPF Partners Oct. 11, with the proceeds to support Adocia’s portfolio development, in particular its clinical studies. The financing line consists of a bond issue, structured in two tranches of equal amounts, for a total amount of €15 million (US$16.7 million). The first €7.5 million tranche was subscribed on Oct. 11, at the signing of the contract. Adocia said its current cash position, following the issue of this second tranche, is above €45 million.
Aspen Neuroscience Inc., of San Diego, said it has launched with a $6.5 million seed round, led by Domain Associates and Axon Ventures. The company is focused on the development of autologous cell therapies for Parkinson's disease. Its research is specific to induced pluripotent stem cells, which it develops from a skin biopsy from a person with Parkinson's disease and then turning the tissue into pluripotent stem cells using genetic engineering. Aspen then differentiates the pluripotent stem cells into dopamine-releasing neurons that can be autologously transplanted to restore the neurons lost in Parkinson's disease.
Assembly Biosciences Inc., of South San Francisco, said it plans to offer and sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. The underwriters will be granted a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering.
Aurinia Pharmaceuticals Inc., of Victoria, British Columbia, said it closed its underwritten public offering of 12.72 million common shares at $15 each, a total that includes 1.66 million common shares following the full exercise of the underwriters’ option to purchase additional shares. The gross offering proceeds are approximately $191.7 million, and the net proceeds will be used for pre-commercialization and launch activities, as well as working capital and general corporate purposes. The company’s shares (NASDAQ:AUPH) closed Thursday at $18.25, down 21 cents.
Diffusion Pharmaceuticals Inc., of Charlottesville, Va., said it entered into definitive securities purchase agreements with certain institutional investors to purchase in a registered direct offering, priced at-the-market, 6.266 million shares at $0.5585 each and associated warrant. The company also agreed to issue to the investors in a concurrent private placement unregistered warrants to purchase up to 6.266 million shares of common stock, at an exercise price of $0.4335 per share. The gross proceeds are expected to be approximately $3.5 million. The company intends to use the net proceeds to fund research and development of its lead product candidate, TSC, that was originally developed in conjunction with the Office of Naval Research to treat hemorrhagic shock caused by massive blood loss on the battlefield, and for general corporate purposes. The company’s shares (NASDAQ:DFFN) closed Thursday at 43 cents, down 14 cents.
Entera Bio Ltd., of Jerusalem, said it closed a private placement offering with a group of accredited investors, including certain board members or their affiliates, and received gross proceeds of $11.8 million from the sale of 4.982 million ordinary shares at $2.37 each. In addition, the purchasers and certain finders have been granted an aggregate of 2.693 million three-year warrants to purchase up to an additional 2.693 million ordinary shares at an exercise price between $2.37 and $2.96 per share. The net proceeds will be used for the completion of an ongoing phase II trial for oral parathyroid hormone in osteoporosis, the filing of an IND for the osteoporosis program, ongoing development efforts to further develop additional compounds and finalize formulations for a hypoparathyroidism clinical candidate and general and administrative expenses. The company’s shares (NASDAQ:ENTX) closed Thursday at $1.88, down 2 cents.
Forty Seven Inc., of Menlo Park, Calif., said it pricing its underwritten public offering of 4.86 million shares at $35 each, with gross proceeds expected to be $170.1 million. The underwriters have been granted a 30-day option to purchase up to 729,000 of additional shares of common stock at the public offering price, less underwriting discounts and commissions. The company’s shares (NASDAQ:FTSV) closed Thursday at $38.74, up $2.78.
Momenta Pharmaceuticals Inc., of Cambridge, Mass., said it priced its underwritten public offering of 14.51 million shares at $15.50 each for gross proceeds of approximately $225 million. The underwriters have been granted a 30-day option to purchase up to an additional 2.177 million shares. The company’s shares (NASDAQ:MNTA) closed Thursday at $16.83, up $1.12.