Baudax Bio Inc., of Malvern, Pa., said it closed its public offering, reflective of about 7.7 million shares of common stock, series A warrants to purchase about 7.7 million shares and series B warrants to purchase 7.7 million shares. Each share of common stock was sold together with one series A warrant and one series B warrant for a combined price of $3.25 per share, for gross proceeds of $25 million. Net proceeds of about $23.1 million will be used for launch and commercialization of recently approved Anjeso, pipeline development activities and general corporate purposes. JMP Securities LLC and Oppenheimer & Co. Inc. acted as joint book-running managers.
Cel-Sci Corp., of Vienna, Va., said it closed its offering of 630,500 shares of common stock at a price of $12.22 per share, for total gross proceeds of about $7.7 million. It also granted the underwriter a 45-day option to purchase up to 94,575 additional shares to cover overallotments. Aegis Capital Corp. acted as the sole book-running manager.
Onethree Biotech Inc., of New York, said it closed a $2.5 million seed round led by Primary Venture Partners and Meridian Street Capital. The company, which emerged from Cornell Tech’s Runway Startup program, uses biology-driven artificial intelligence (AI) to predict new potential therapeutics and to pinpoint the underlying biological mechanisms driving drug efficacy. The funding will be used to scale and build out the platform's backend infrastructure and further validate the technology through partnerships with biotech and pharma. In addition to the new financing, in an effort to help COVID-19 research, Onethree is offering free AI-based toxicity screening to any researcher working on developing a new drug to treat COVID-19.
Sutrovax Inc., of Foster City, Calif., said it closed a $110 million series D preferred stock financing co-led by new investors RA Capital Management and Janus Henderson Investors. All existing institutional investors, including TPG Growth, Abingworth, Longitude Capital, Frazier Health Care Partners, Pivotal Bioventure Partners, Medixci, CTI Life Sciences, Roche Venture Fund and Foresite Capital, participated in the financing. The company’s lead vaccine candidate, SVX-24, is a preclinical 24-valent pneumococcal conjugate vaccine that includes 11 incremental strains over and above standard-of-care Prevnar 13 (Pfizer Inc.), including strains responsible for high case-fatality rates, antibiotic resistance and/or meningitis.