AB Science SA, of Paris, said it raised more than €12.3 million (US$13.72 million) through a private placement, the exercise of warrants (initially subscribed in connection with an August 2019 private placement) and the implementation of a financing agreement put in place to pre-finance a 2019 research tax credit. The company placed a total of 860,220 new ordinary shares at €7.44 each. In addition, the exercise of warrants generated a total of approximately €1.23 million.
DBV Technologies SA, of Montrouge, France, said the underwriters in its global offering have partially exercised their option to purchase 338,687 additional ordinary shares in the form of 677,374 American depositary shares (ADSs), at $10.25 per ADS. That brings the total number of ordinary shares sold in the global offering to 7.83 million, including 4.87 million in the form of 9.74 million ADSs, for total gross proceeds of $160.7 million. The company plans to use the net proceeds, together with its existing cash and cash equivalents, primarily to prepare for the commercialization of Viaskin Peanut, including marketing efforts related to launch in the second half of this year, if approved, as well as to advance the discovery and development of the company’s other product candidates using its Viaskin platform and for working capital and general corporate purposes.
Enlivex Therapeutics Ltd., of Ness Ziona, Israel, said it entered definitive agreements with certain accredited and health care-focused institutional investors, including Armistice Capital, for the purchase in a registered direct offering of an aggregate of 2.09 million ordinary shares and warrants to purchase up to an aggregate of 2.09 million ordinary shares at a combined purchase price of $8 per share and associated warrant that will have an exercise price of $9 per ordinary share, an exercise period commencing immediately upon issuance and a term of two years. The gross proceeds are expected to be $16.75 million, with the net proceeds being used for clinical, regulatory, manufacturing and research and development activities, potential acquisitions and in-licensing, as well as for working capital and other general corporate purposes.
Evonetix Ltd., of Cambridge, U.K., said it closed its series B financing of $30 million (£23 million). The round was led by new investor Foresite Capital, with existing investors Draper Esprit, DCVC (Data Collective), the Morningside group, Providence Investment Co., Cambridge Consultants Ltd., Rising Tide Fund and Civilization Ventures also participating in the round. The funding will be used to accelerate internal technology development, including the integration of the company’s technology to enable the synthesis of DNA on a chip.
Marker Therapeutics Inc., of Houston, said it entered a common stock purchase agreement of up to $30 million with Aspire Capital Fund LLC. The immuno-oncology company is focused on the development of next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumor indications.
NLS Pharmaceutics Ltd., of Stans, Switzerland, said it filed to raise up to $40 million in an IPO in the U.S. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The company is developing treatments for rare neurological diseases, including narcolepsy, idiopathic hypersomnia and Kleine Levin syndrome, and for neurodevelopmental disorders such as attention deficit hyperactivity disorder. The company plans to list on Nasdaq under the symbol NLSP.
Oric Pharmaceuticals Inc., of South San Francisco, filed to raise up to $86 million in an IPO and plans to list on Nasdaq under the symbol ORIC. The company’s lead product candidate, ORIC-101, is a selective small-molecule antagonist of the glucocorticoid receptor, which has been linked to resistance to multiple classes of cancer therapeutics across a variety of solid tumors. In August last year, the company raised $55 million to help drive two separate phase Ib trials of ORIC-101 in combination with Xtandi (enzalutamide, Astellas Pharma Inc./Pfizer Inc.) in metastatic prostate cancer and Abraxane (nab-paclitaxel, Celgene/Bristol-Myers Squibb) in advanced or metastatic solid tumors
Passage Bio Inc., of Philadelphia, said it priced its IPO of 12 million shares at $18 each for gross proceeds of $216 million. The underwriters have been granted a 30-day option to purchase up to an additional 1.8 million shares at the public offering price. The shares began trading on Nasdaq on Feb. 28 under the ticker symbol PASG and closed March 2 at $21.50.
Polyprox Therapeutics Ltd., of Cambridge, U.K., said it raised an additional £1 million (US$1.28 million) in seed capital from new investor Lifearc. The additional funding will be used to deliver in vivo proof-of-concept data for polyproxin molecule leads against two oncology drug targets. The data will form the basis for series A financing in 2021.
Primmune Therapeutics Inc., of San Diego, said it raised $7 million in seed financing to support the development of orally administered, small-molecule Toll-like receptor 7 agonists as immunotherapies for the treatment of cancer and viral diseases.
Tonix Pharmaceuticals Inc., of New York, said it entered a securities purchase agreement with institutional investors for the purchase and sale of 14.55 million shares at $1.10 each in a registered direct offering, priced at-the-market under Nasdaq rules, for gross proceeds of $16 million. The company is focused on discovering and developing small molecules and biologics to treat pain, addiction and psychiatric conditions.
Theravance Biopharma Inc., of Dublin, said it closed a private placement of $400 million of non-recourse triple II 9.5% fixed-rate term notes secured by a portion of the future payments the company expects to receive related to royalties due on net sales of Trelegy Ellipta (fluticasone furoate, umeclidinium and vilanterol). The company used a portion of the net proceeds from that transaction to repay in full the remaining outstanding balance of the $250 million triple PhaRMASM 9% fixed rate term notes due 2033 and intends to use the remainder of the net proceeds to support continued execution of its key development programs.
Vaxart Inc., of South San Francisco, which is developing oral recombinant vaccines that are administered by tablet rather than by injection, said it entered definitive agreements with several institutional investors for the issuance and sale of 4 million shares of its common stock and warrants to purchase up to 2 million shares of its common stock, at a combined purchase price of $2.50 per share and associated warrant, for aggregate gross proceeds of $10 million, in a registered direct offering priced at-the-market under Nasdaq rules. The warrants have an exercise price of $2.50 per share and a term of five years. The company intends to use the net proceeds to support the clinical and preclinical development of its product candidates, to conduct clinical trials, and for general corporate and working capital purposes.
Verastem Inc., of Boston, said it plans to sell about 46.5 million shares of its common stock priced at $2.15 each to certain institutional investors, including RA Capital Management, Vivo Capital, Venrock Healthcare Capital Partners, Farallon Capital Management, Acuta Capital, Ecor1 Capital LLC, Avidity Partners and Logos Capital, in a private placement. It anticipates aggregate gross proceeds from the offering will be approximately $100 million and the net proceeds from the offering will be used to advance the focal adhesion kinase inhibitor defactinib and CH-5126766 (VS-6766) programs, as well as for general corporate purposes.
Xilio Therapeutics Inc., of Waltham, Mass., the new name of Akrevia Therapeutics, which is developing tumor-selective immuno-oncology therapies, said it closed a $100.5 million series B financing that will be used to progress the company’s first two therapeutic candidates, XTX-201 (tumor-selective IL-2) and XTX-101 (tumor-selective aCTLA4 MAb) through IND-enabling studies and into phase I trials, as well as advance additional tumor-selective cytokine programs. The financing was led by Takeda Ventures Inc., with new investors SV Health Investors, MRL Ventures Fund, Rivervest Venture Partners, Bay City Capital, Solasta Ventures, M Ventures and Ipsen Ventures joining existing investors F-Prime Capital and Atlas Venture in the syndicate.