Actym Therapeutics Inc., of Berkeley, Calif., said it completed a $34 million series A financing led by Boehringer Ingelheim Venture Fund and Panacea Venture, with participation from Illumina Ventures, Korea Investment Partners and Jlo Ventures. The company will use the proceeds to advance development of immunotherapies from its microbial-based STACT (S. Typhimurium Attenuated Cancer Therapy) platform into the clinic for the treatment of various cancers.
Actinium Pharmaceuticals Inc., of New York, said it closed its underwritten public offering of 210.83 million shares at 15 cents each for gross proceeds of approximately $31.6 million. The net proceeds will be used to complete an ongoing pivotal, phase III Sierra trial for its lead product candidate, Iomab-B, and support its BLA filing. The funds will also be used to progress phase I trials from its refocused CD33 program to the proof-of-concept stage and general working capital needs.
ADC Therapeutics SA, of Lausanne, Switzerland, a late clinical-stage oncology-focused company developing targeted antibody-drug conjugates for hematological malignancies and solid tumors, said it filed a registration statement with the SEC to conduct a proposed IPO of its common shares. The company intends to list its common shares on the New York Stock Exchange under the ticker symbol ADCT.
Cyclacel Pharmaceuticals Inc., of Berkeley Heights, N.J., said it closed its public offering of 4 million shares and common warrants to purchase up to 4 million shares at $5 per share and accompanying common warrant. The net proceeds are approximately $18.4 million.
Cyclo Therapeutics Inc., of Gainesville, Fla., which develops cyclodextrin-based products for the treatment of Niemann-Pick disease type C and Alzheimer’s disease, said it closed a private placement of its securities with a group of accredited investors who purchased 20 million shares at 10 cents each.
Erasca Inc., of San Diego, said it raised $200 million from a series B financing round co-led by Arch Venture Partners and Cormorant Asset Management. The company will use the proceeds to support the clinical development of multiple oncology programs and further advance the company’s in-house drug discovery pipeline.
Evofem Biosciences Inc., of San Diego, said it entered a securities purchase agreement with a U.S.-based, health care-focused institutional investor for up to $25 million of convertible notes of which $15 million has been funded and the remaining $10 million may be funded at the investor's discretion at any time prior to the company meeting specific funding requirements.
Lifesprout Inc., of Baltimore, said it closed a $28.5 million series A financing led by Redmile Group with new investors Nexus Management LP, Emerald Development Managers LP and the Abell Foundation joining the syndicate. The company will use the proceeds to support clinical development of therapeutic products from its regenerative matrix platform. The first product from that platform, Lumina, is a next-generation aesthetic filler that combines hyaluronic acid with biostimulatory effects.
Lyra Therapeutics Inc., of Watertown, Mass., has set terms for its IPO, planning to sell 3.5 million shares at a price range of $14 to $16. Proceeds of the financing are expected to support clinical development and pre-commercialization expenses for LYR-210, a depot formulation of mometasone furoate, a synthetic corticosteroid, and further development of LYR-220, a long-acting six-month formulation of the same drug. Both rely on the company's Xtreo drug delivery platform, which consists of a biocompatible mesh scaffold, an engineered elastomeric matrix and a polymer-drug complex. The company's proposed trading symbol is LYRA.
Rome Therapeutics Inc., of Cambridge, Mass., has launched with a $50 million series A funding round with participation from GV, Arch Venture Partners and Partners Innovation Fund. The company will discover and develop therapies for cancer and autoimmune diseases by leveraging new insights from the repeatome where, the company explains, among other elements, it contains the remnants of ancient viruses, which have integrated into the human genome over time. In addition to being vital for embryonic development, those viral-like strands of genetic material are activated in times of stress and may play a significant role in driving diseases such as cancer, as malignant cells co-opt the repeats to facilitate their own survival and growth. The company said those insights are the foundation of the its repeatome-based therapeutics.
VBI Vaccines Inc., of Cambridge, Mass., said it closed its underwritten public offering and the exercise in full of the underwriters’ option to purchase additional shares for gross proceeds of approximately $57.5 million. It issued 52.27 million shares at $1.10 each. The company intends to use the net proceeds to support the regulatory filings, pre-commercialization and launch planning activities for Sci-B-Vac in the U.S., Europe and Canada, for the continued advancement of its pipeline programs, including the development of VBI-1901, a cancer vaccine immunotherapeutic candidate for recurrent glioblastoma; VBI-2601, an immunotherapeutic candidate for chronic hepatitis B infection; VBI-1501, a prophylactic cytomegalovirus vaccine candidate; and VBI-2901, a prophylactic pan-coronavirus vaccine candidate.