Addex Therapeutics Ltd., of Geneva, said it publicly filed its registration statement on form F-1 with the SEC in connection with a proposed listing of American depositary shares (ADSs) representing the company's shares on the Nasdaq. The statement was filed to create a trading market in U.S for the ADSs.
Allysta Pharmaceuticals Inc., of San Mateo, said it completed an additional $5 million preferred series A equity financing with Morningside Venture Investments Ltd., bringing the total commitment to $20 million. The company is advancing its compound ALY-688, a first-in-class therapeutic peptide, for the treatment of nonalcoholic steatohepatitis and plans to submit an investigational new drug application and then initiate clinical studies late next year.
Capricor Therapeutics Inc., of Los Angeles, said it entered into a definitive securities purchase agreement with a single institutional investor for the purchase in an offering priced at-the-market of 4.07 million shares at $1.226 each and associated warrant to purchase one share of common stock at an exercise price of $1.10. The gross proceeds are expected to be approximately $5.1 million and the company intends to use the net proceeds to fund research and development of its exosome technologies and for general corporate purposes.
Epirium Bio Inc. (formerly, Cardero Therapeutics Inc.), of San Francisco, raised $85 million in series A financing provided by Longitude Capital, Arch Venture Partners, Bluebird Ventures, Adams Street Partners, Vertex Ventures HC and The Longevity Fund. Epirium is developing therapeutics that optimize both tissue bioenergetics and structure. Epirium intends to advance its first clinical candidate next year, initially in Becker muscular dystrophy, followed by drug development targeting other progressive neuromuscular disorders associated with mitochondrial depletion. Epirium’s class of therapeutics address not only the loss of muscle structure, but also the underlying mitochondrial dysfunction, which represents another major progression factor in diseases of muscle failure.
Global Blood Therapeutics Inc., of South San Francisco, said it entered into a $150 million loan agreement with funds managed by Pharmakon Advisors LP, a life sciences investment firm and manager of the Biopharma Credit funds. The first $75 million will be drawn at closing of the transaction, and an additional tranche of $75 million will be available for the company to draw down at its option until Dec. 31, 2020. The loan matures in December 2025 and can be prepaid at any time, subject to prepayment fees.
Immix Biopharma Inc., of Los Angeles, said it achieved the first closing of a convertible note financing, adding Mesa Verde to its investor syndicate. The funds will support clinical testing of its lead compound Imx-110 targeting advanced solid tumors.
Neoleukin Therapeutics Inc., of Seattle, said it intends to offer and sell, subject to market and other conditions, up to $50 million of 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 sold in the offering.
Pathios Therapeutics Ltd., of Oxford, U.K., said it completed an $8.8 million series A financing round led by Canaan and Australia’s Medical Research Commercialization fund managed by Brandon Capital. The company’s drug discovery program is aimed at modulating the activity of GPR65 targeting its signaling in cells of the immune system. This target, the company explained, is characteristic of certain T helper 17 cell populations, which have been shown to contribute significantly to the pathology of autoimmune conditions, such as ankylosing spondylitis and psoriatic arthritis. In addition, recently published studies have demonstrated GPR65 drives tumor-associated macrophages to adopt a phenotype that supports cancer immune evasion.
Pipeline Therapeutics, of San Diego, raised $30 million in a series B financing led by new investor Sectoral Asset Management. Founding investor Versant Ventures also participated and was joined by new investors Cleva Pharma Capital (a Brace Pharma affiliate), RBV Capital and Hadean Ventures. Pipeline will use the proceeds to advance its portfolio of regenerative therapies that promote functional recovery in multiple neurological diseases. The lead candidate, PIPE-505, is entering phase Ib/IIa testing to treat mild to moderate sensorineural hearing loss associated with cochlear synaptopathy. Pipeline also is advancing PIPE-307, a selective M1 receptor antagonist, to treat multiple sclerosis and other demyelinating disorders. PIPE-307 can regenerate myelin around the axon, thus addressing the hallmark of multiple sclerosis.