Karolinska Development AB, of Stockholm, said it divested part of its holding in portfolio company Aprea Therapeutics Inc., of Boston, for SEK59 million (US$5.9 million). Aprea, which is developing cancer therapeutics that reactivate mutant tumor suppressor protein p53, priced an $85 million IPO in October. Karolinska’s remaining holding in Aprea, including indirect holding through KCIF Co-investment Fund, amounts to about 1% of the total outstanding shares in Aprea.
Scynexis Inc., of Jersey City, N.J., said it entered a common stock purchase agreement for up to $20 million with Aspire Capital Fund LLC. The company receives the right to sell, from time to time and in its sole discretion, up to $20 million in shares over the next 30 months, subject to certain limits. As a commitment fee for the agreement, the company issued Aspire Capital 709,103 shares.
Sol-Gel Technologies Ltd., of Ness Ziona, Israel, said it closed an additional $5 million investment, bringing the total gross proceeds from the February underwritten offering and the M. Arkin Dermatology Ltd. investment to $28 million. As part of the investment, the company issued to M. Arkin Dermatology 454,628 ordinary shares and warrants to purchase up to 363,702 ordinary shares in a private placement at a combined price of $11 per ordinary share and accompanying warrant to purchase 0.80 of an ordinary share. The warrants have an initial exercise price of $14 per share, subject to certain adjustments, and will expire on Feb. 19, 2023.
Stealth Biotherapeutics Corp., of Boston, said it completed a $20 million private placement with Morningside Venture (I) Investments Ltd., which purchased 152.85 million ordinary shares at $0.13084 each. The company expects to use the proceeds to advance development of its lead candidate, elamipretide, its next-generation clinical-stage compound, SBT-272, and its pipeline of mitochondrial therapeutics.