Fennec Pharmaceuticals Inc., of Research Triangle Park, N.C., priced a public offering of 4.8 million shares at $6.25 apiece for gross proceeds of $30 million. The company will grant underwriters a 30-day option to purchase up to an additional 720,000 shares. Fennec plans to use the net proceeds for obtaining regulatory approvals, the commercial launch of Pedmark, if approved, and working capital and general corporate purposes. Cantor Fitzgerald & Co. is acting as the sole book-running manager, with Wedbush Pacgrow serving as the co-manager for the offering, set to close May 4. Shares of Fennec (NASDAQ:FENC) closed April at $6.25, down 98 cents, or 13.5%.
Genespire Srl, of Milan, Italy, closed a €16 million (US$17.4 million) series A financing from Sofinnova Partners. The company, which was founded in March as a spin-off of the San-Raffaele-Telethon Institute for Gene Therapy, will use the funds to advance its platform technologies for developing gene therapies in primary immunodeficiencies and metabolic genetic diseases. Genespire also appointed Julia Berretta CEO and board member. Graziano Seghezzi, managing partner at Sofinnova, and Lucia Faccio, partner at Sofinnova, will also join the company’s board.
Hyloris Pharmaceuticals SA, of Liege, Belgium, raised €15 million (US$16.4 million) in a funding round, supported by a mix of new and existing investors, including Scorpiaux, Noshaq, Saffelberg Investments and Nomainvest. Hyloris’ development strategy is focused on the FDA’s 505(b)(2) regulatory pathway. Products and product candidates span three areas: intravenous cardiovascular, other reformulations and established market (high-barrier generics).
Kiadis Pharma NV, of Amsterdam, the Netherlands, disclosed a private placement of €5 million (US$5.4 million) for about 3 million ordinary shares at a price of €1.67 per share with LSP Advisory, the public investment arm of Life Sciences Partners, on behalf of the LSP Life Sciences Fund NV and several mandate clients. The transaction is on the same terms, subject to current market conditions, as the €12 million private placement with the U.S.-based health care-focused investment fund made public on April 28, including discount percentages, warrant coverage and warrant strike price. The company expects this transaction to close this week.
Pluristem Therapeutics Inc., of Haifa, Israel, gained backing from the European Investment Bank through the company’s German subsidiary, Pluristem GmbH, with a venture debt loan of €50 million (US$54.7 million). The company uses cells derived from the placenta for the development of product candidates for the treatment of severe medical conditions such as infections, inflammation, ischemia, muscle injury, hematological disorder or acute radiation syndrome. Pluristem recently extended its activity in response to the coronavirus pandemic and treated several COVID-19 patients with acute respiratory failure under the compassionate use program. The financing will support Pluristem's research and development in the EU, notably its regenerative cell therapy platform.
Syndax Pharmaceuticals Inc., of Waltham, Mass., said it priced a public offering of 5.5 million shares at $18 per share for gross proceeds of about $100 million. Underwriters have the option to purchase up to 833,333 additional shares. Citigroup and Cowen are acting as joint book-running managers for the offering, set to close May 4. Shares of Syndax (NASDAQ:SNDX) closed at $18 on April 30, down 70 cents.