Aptorum Group Ltd., of New York, priced a registered direct offering of about 1.4 million class A ordinary shares and warrants to purchase about 1.4 million of its class A ordinary shares at an exercise price of $7.40 per share. Gross proceeds are expected to be about $10 million. Participation in the offering includes about $6 million from unaffiliated institutional investors and $4 million from Jurchen Investment Corp., the largest shareholder of Aptorum Group, which is wholly owned by Ian Huen, the CEO and executive director of Aptorum Group. Proceeds will be used to fund the continued research and development of therapeutic candidates, including SACT-1 and ALS-4, and also to expand the discovery and development pipeline of the Smart-ACT orphan diseases platform, as well as for working capital, and for general corporate purposes. The offering is expected to close on Feb. 28. Alliance Global Partners is acting as lead placement agent, and Maxim Group LLC is acting as a co-placement agent.
Genmab A/S, of Copenhagen, said it will increase its share capital by 82,076 shares as a consequence of the exercise of employee warrants. Proceeds to the company are about DKK36.83 million (US$5.4 million). The increase corresponds to about 0.13% of the company's share capital.
MPM Capital, of Cambridge, Mass., and Dana-Farber Cancer Institute entered an impact investing collaboration, which has raised two funds: the MPM Oncology Innovations Fund with $100 million in capital for creating and investing in early stage biotech companies developing oncology therapeutic technologies; and the Dana-Farber Innovations Research Fund with more than $26 million in pledged donations to support early stage oncology research at Dana-Farber.
Outlook Therapeutics Inc., of Cranbury, N.J., said it closed its previously announced registered direct offering, priced at-the-market under Nasdaq rules, of 7.6 million shares of its common stock, at a combined purchase price of $1.016 per share and associated unregistered warrant, for aggregate gross proceeds of about $7.72 million. The company also issued to the investors in the registered direct offering unregistered warrants to purchase up to an aggregate of 3.8 million shares of its common stock. H.C. Wainwright & Co. acted as the exclusive placement agent. In addition, Outlook closed the private placement, priced at-the-market under Nasdaq rules, with an affiliate of Biolexis Pte. Ltd., its controlling stockholder and strategic partner, of 2.5 million shares and warrants to purchase up to 1.2 million shares, at a combined purchase price of $1.016 per share and associated warrant, for aggregate gross proceeds of about $2.5 million. Outlook intends to use the net proceeds for working capital and general corporate purposes, including in support of its ONS-5010 development program.