Argenx SE, of Breda, the Netherlands, said it is conducting a global offering of $500 million (approximately €458.3 million) of ordinary shares. The company will sell ordinary shares represented by American depository shares (ADSs) in the U.S. and certain other countries outside of the European Economic Area and a simultaneous private placement of ordinary shares in the European Economic Area. Each of the ADSs represents the right to receive one ordinary share, nominal value of €0.10 per share. The U.S. offering and the European private placement are expected to close simultaneously. In addition, the underwriters of the offering will be granted a 30-day option to purchase additional ordinary shares (which may be represented by ADSs) in an aggregate amount of up to 15% of the total number of ordinary shares (including represented by ADSs) proposed to be sold in the offering, on the same terms and conditions.
Atara Biotherapeutics Inc., of South San Francisco, said it priced an underwritten public offering of 12.63 million shares at $11.32 each and, to certain investors, prefunded warrants to purchase 2.86 million shares at $11.3199 per prefunded warrant share. The gross proceeds from the offering are expected to be approximately $175.5 million. The underwriters have been granted a 30-day option to purchase up to an additional 2.32 million shares at the public offering price. Shares of Atara (NASDAQ:ATRA) closed May 27 at $11.13, down 19 cents.
Caladrius Biosciences Inc., of Basking Ridge, N.J., said it entered definitive agreements with several institutional and accredited investors for the issuance and sale of a 2.08 million shares of its common stock, at a purchase price of $2.0625 per share, in a registered direct offering priced at-the-market under Nasdaq rules. The company also agreed to issue to the investors unregistered warrants to purchase up to an aggregate of 1.04 million shares of common stock. The gross proceeds are expected to be approximately $4.3 million, with the net proceeds being used for working capital and general corporate purposes. Shares of Caladrius (NASDAQ:CLBS) closed May 27 at $1.78, up 3 cents.
Deerfield Management Co. has established a new partnership with the University of Michigan (UM) that will create Great Lakes Discoveries LLC to commercialize therapeutic projects. Deerfield has committed up to $130 million over the next decade to invest in biomedical research at UM with the aim of developing potentially life-saving drugs and disease treatments. Beginning this fall, university researchers will be able to submit proposals for review by a Great Lakes committee composed of scientific leadership representing both the university and Deerfield.
Fortress Biotech Inc., of New York, said it priced an underwritten public offering of 555,556 shares of its 9.375% series A cumulative redeemable perpetual preferred stock at $18 per share, with expected gross proceeds of approximately $10 million. In addition, Fortress has granted the underwriters a 45-day option to purchase up to 83,333 additional shares of its series A preferred stock at the public offering price. The company intends to use the net proceeds to support its operations.
Hoth Therapeutics Inc., of New York, said it closed its public offering of about 1.8 million shares priced at $2.75 apiece for gross proceeds of about $5 million. Hoth granted underwriters a 45-day option to purchase up to an additional 272,727 shares. The company intends to use net proceeds for general corporate purposes, including the development of products to prevent COVID-19, working capital, sales and marketing activities, and general and administrative matters. The Benchmark Co. LLC acted as sole book-running manager.
Outlook Therapeutics Inc., of Monmouth Junction, N.J., said it entered a stock purchase agreement with Syntone Ventures LLC for a private placement of $16 million of common stock at a price of $1 per share. In addition, it entered a joint venture agreement with Syntone Technologies Group Co. Ltd. to form a joint venture to develop and commercialize ONS-5010/Lytenava (bevacizumab-vikg), an investigational ophthalmic formulation of bevacizumab to treat wet age-related macular degeneration, in China. Outlook will use $900,000 of the private placement proceeds to fund its initial capital contribution to the joint venture.
Pliant Therapeutics Inc., of South San Francisco, has established terms for its IPO and plans to raise $90 million by offering 6 million shares at a price range of $14 to $16. Novartis AG, of Basel, Switzerland, has committed to buying an additional $10 million of shares in a private placement. Pliant plans to use the proceeds to fund clinical development of PLN-74809, including conducting phase IIa trials in idiopathic pulmonary fibrosis and primary sclerosing cholangitis, preclinical development of its programs in oncology and muscular dystrophy and for business development activities, working capital and other general corporate purposes, including early stage research and development activities. The company will list its shares on Nasdaq under the symbol PLRX.
Pneumagen Holdings Ltd., of St Andrews, Scotland, focused on treating infectious diseases by targeting the human glycome, said it received a £4 million (US$4.89 million) investment to support the clinical development of its lead candidate, Neumifil, a potentially first-in-class carbohydrate binding module, generated using the company’s Glycotarge platform. It is being developed for the universal treatment of respiratory tract infections caused by influenza virus and respiratory syncytial virus, and now coronaviruses, including SARS-CoV-2, the cause of COVID-19. The financing was led by Thairm Bio with additional support from the Scottish Investment Bank. It follows data from preclinical studies in COVID-19 using plaque reduction assays. The testing conducted at Public Health England’s Porton facility and from the University of Glasgow’s MRC Centre for Virus Research demonstrated efficacy in inhibiting SARS-CoV-2 infection.
Saniona AB, of Ballerup, Denmark, said 970,797 warrants of series TO 1 were exercised, corresponding to a subscription rate of 65.6%, for proceeds of approximately SEK24.3 million (US$2.52 million).
Seneca Biopharma Inc., of Germantown, Md., closed its $5 million registered direct offering in which it sold an aggregate of 5 million shares of its common stock at $1 per share. Seneca intends to use the net proceeds for general working capital. H.C. Wainwright & Co. acted as the exclusive placement agent.
Turning Point Therapeutics Inc., of San Diego, said the underwriters of its underwritten public offering of common stock have exercised in full their option to purchase 812,500 additional shares of common stock at the public offering price of $60 per share. The total gross proceeds from the offering are expected to be approximately $373.8 million.
Vaxcyte Inc., of Foster City, Calif., has filed to raise up to $100 million in an IPO and expects that its shares will trade on Nasdaq under the symbol PCVX. The vaccine-focused company has in its pipeline a lead pneumococcal conjugate vaccine, VAX-24, that is expected to advance into clinical trials in the second half of next year.
VBI Vaccines Inc., of Cambridge, Mass., said it entered a debt financing facility for up to $50 million with K2 Healthventures. The company has received the first tranche of $20 million and fully repaid its previous $15 million loan facility with Perceptive Advisors. Future tranches of up to $20 million will become available upon achievement of certain regulatory and developmental milestones, and a final tranche of up to $10 million will be available at the discretion of K2 Healthventures.