Abivax SA, of Paris, said Bpifrance approved €36 million (USS$39.1 million) in nondilutive funding (a €20.1 million grant, and a €15.9 million loan refundable upon success) to support its phase IIb/III trial of ABX-464 in high-risk patients with COVID-19 as well as manufacturing scale-up and additional clinical and other development costs.

Apeiron Biologics AG, of Vienna, said it will complete a capital increase to support the further development of APN-01 for the treatment of severely ill COVID-19 patients as well as the development of immuno-oncology projects. The Vienna Insurance Group will lead the financing round and secures the private placement as an anchor investor. Investment commitments from existing shareholders and new institutional and private international investors have been provided. APN-01 specifically targets the coronavirus by imitating the receptor ACE2.

Bluebird Bio Inc., of Cambridge, Mass., said it is undertaking an underwritten public offering of $400 million of its common stock and intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering.

Citius Pharmaceutical Inc., of Cranford, N.J., said it closed its registered direct offering priced at-the-market under Nasdaq rules. In the offering, Citius sold about 7 million shares at a purchase price per share of $1.0625. Citius also issued to the investors unregistered warrants to purchase up to 3.5 million shares of its common stock. Gross proceeds were about $7.5 million, and net proceeds of $6.8 million will be used for general corporate purposes, including clinical trial expenses, research and development expenses, manufacturing expenses and general and administrative expenses. H.C. Wainwright & Co. acted as the exclusive placement agent.

Diffusion Pharmaceuticals Inc., of Charlottesville, Va., said it is conducting a registered direct offering priced at-the-market under Nasdaq rules. It will offer certain institutional and accredited investors 11.42 million shares at $1.05 each for gross proceeds of approximately $12 million. The net proceeds will be used to fund research and development of its lead product candidate, TSC, including clinical trial activities, and for general corporate purposes.

Midatech Pharma plc, of Abingdon, U.K., said it is conducting a registered direct offering of 1.81 million of its American depositary shares (ADSs), with each ADS representing five of the company's ordinary shares, at $1.65 per ADS for aggregate gross proceeds of $3 million (£2.5 million). Additionally, in a concurrent private placement, the company has agreed to issue the investors unregistered warrants to purchase up to an aggregate of 1.81 million ADSs. Concurrently with the U.S. offering, it entered definitive binding agreements with certain investors in the U.K for the placing of 6.66 million units, with each unit comprising one ordinary share and one warrant exercisable for one ordinary share, at an issue price of 27 pence per unit, for aggregate gross proceeds of £1.8 million.

SQZ Biotechnologies Co., of Watertown, Mass., a clinical-stage cell therapy company developing treatments for multiple therapeutic areas, said it completed a $65 million series D preferred stock financing led by Temasek. The financing will support the advancement of the company’s current pipeline of multifunctional cell therapies, designed to direct specific immune responses, and its expansion into infectious diseases.

Turning Point Therapeutics Inc., of San Diego, said it started an underwritten public offering, subject to market and other conditions, to issue and sell $250 million of shares of its common stock and expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock.

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