Allena Pharmaceuticals Inc., of Newton, Mass., said it entered definitive agreements with several institutional and accredited investors for the purchase and sale of about 7.3 million shares of common stock, at a purchase price of $2.05 per share, in a registered direct offering priced at-the-market under Nasdaq rules. The closing of the offering is expected to occur on or about June 5. The gross proceeds are expected to be about $15 million and will be used for general working capital purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent.
Apeiron Biologics AG, of Vienna, closed a financing round of €17.5 million (US$19.7 million). The round includes an equity investment of €11.9 million from existing and new private and institutional investors, including the Vienna Insurance Group, and €5.6 million in public funding and guarantees from the Austrian Research Agency, the Vienna Business Agency, the Austria Economic Service Co. and Erste Bank. Apeiron plans to use the proceeds to fund the development of APN-01, a treatment for seriously ill COVID-19 patients, and the further development of immuno-oncology projects.
Arca Biopharma Inc., of Westminster, Colo., closed its registered direct offering with certain institutional and accredited investors of 348,000 shares of common stock, at a purchase price of $9 per share, and prefunded warrants to purchase 325,500 shares of common stock at a purchase price of $8.999 per warrant. The gross proceeds were about $6.1 million and represent a mutually agreed reduction in the gross proceeds from the initial $9.4 million previously announced on June 1. Arca anticipates net proceeds will be used to initiate its clinical trial of AB-201 and for working capital and general corporate purposes. Jonestrading Institutional Services LLC acted as the exclusive placement agent.
Evofem Biosciences Inc., of San Diego, priced its public offering of 28.5 million shares at $3.50 per share, grossing the company approximately $100 million. The underwriters have a 30-day option to purchase an additional 4.275 million shares. Morgan Stanley and Piper Sandler are acting as joint book-running managers, Oppenheimer & Co. Inc. is acting as lead manager and H.C. Wainwright & Co. is acting as lead co-manager for the offering, which is expected to close on or about June 5. Shares of Evofem (NASDAQ:EVFM) closed down $1.24, or 26.6%, to $3.42 on June 3.
Hyloris Pharmaceuticals SA, of Liege, Belgium, plans to launch an IPO on the Euronext Brussels. The amount the company plans to raise wasn't disclosed. The IPO proceeds will be used for the development of Hyloris' product candidates, establishment of a commercial team in the U.S., expansion of its product pipeline both internally and through business development opportunities and for general corporate purposes.
Innocan Pharma Corp., of Toronto, amended its offering priced on May, 15. The company will now raise CA$2.5 million (US$1.85 million), selling units at CA18 cents per unit. Each unit consists of one share and a warrant to purchase an additional share. If the warrants are purchased, the company could raise CA$10 million. Mackie Research Capital Corp. acted as the as sole bookrunner for the offering, and Canaccord Genuity Corp. acted as the co-lead agents, together with Haywood Securities Inc. and PI Financial Corp. Those agents have a 30-day option to increase the size of the offering by 15%. The offering is scheduled to close on or about the week of June 8.
Intellia Therapeutics Inc., of Cambridge, Mass., priced its public offering of about 5.5 million shares at $18.25 per share, grossing the company $100 million. The underwriters have a 30-day option to purchase an additional 821,917 shares. Goldman Sachs & Co. LLC, Jefferies and SVB Leerink are acting as joint book-running managers for the offering, which is expected to close on or about June 5.
Iovance Biotherapeutics Inc., of San Carlos, Calif., closed its public offering of about 19.5 million shares, including 2.5 million shares as part of the underwriters option to purchase additional shares, at $31 per share, grossing the company $603.7 million. Iovance plans to use the proceeds to fund the commercial launch of lifileucel for advanced melanoma and LN-145 for advanced cervical cancer, to start a program directed at registration of Iovance’s tumor infiltrating lymphocyte therapies in non-small-cell lung cancer, to support ongoing commercial manufacturing activities, for the development of its IL-2 analogue, IOV-3001, and for other general corporate purposes. Jefferies LLC and Goldman Sachs & Co. LLC acted as joint lead book-running managers for the offering. Wells Fargo Securities LLC acted as book-running manager for the offering. Oppenheimer & Co. Inc. acted as lead co-manager for the offering. Robert W. Baird & Co. Inc. and H.C. Wainwright & Co. LLC acted as co-managers.
Isofol Medical AB, of Gothenburg, Sweden, said the overallotment option for its offering was exercised, resulting in the sale of about 8.6 million shares, which raised approximately SEK30 million (US$3.24 million), resulting in a total proceedings of approximately of SEK180 million before transaction costs. Carnegie Investment Bank AB and Pareto Securities AB are acting as joint bookrunners for the offering.
Iterum Therapeutics plc, of Dublin, said it entered definitive agreements with institutional investors for the purchase and sale of about 3 million of its ordinary shares at a purchase price of $1.6825 per ordinary 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 about 1.5 million ordinary shares in a concurrent private placement. The warrants have an exercise price of $1.62 per share, are exercisable immediately, and will expire 5.5 years following the date of issuance. The closing of the offering is expected to occur on or about June 5. Gross proceeds are expected to be $5 million and will be used to fund the continued clinical development of sulopenem, including the ongoing phase III trial of sulopenem for uncomplicated urinary tract infections, the management of potential regulatory filings and for working capital and general corporate purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent.
Kaleido Biosciences Inc., of Lexington, Mass., priced its public offering of 4.75 million shares at $7.50 per share, grossing the company $35.6 million. The underwriters have a 30-day option to purchase an additional 712,500 shares. Kaleido plans to use the capital to fund the development of KB-109 in patients with mild to moderate COVID-19, KB-195 in patients with urea cycle disorders and KB-295 in patients with mild to moderate ulcerative colitis; funds will also support other research and development activities as well as be used for general and administrative expenses, working capital and other general corporate purposes. Morgan Stanley is acting as sole book-running manager for the offering, and Canaccord Genuity is acting as lead manager for the offering, which is expected to close on June 4.
Marinus Pharmaceuticals Inc., of Radnor, Pa., closed its public offering at $2.50 per share. The company sold 18.4 million shares, including 2.4 million shares as part of the underwriters option to purchase additional shares, grossing the company about $46 million. Marinus plans to use the capital for the development of its product candidates and for general corporate purposes, which may include working capital, capital expenditures, research and development expenditures, clinical trial expenditures, acquisitions of new technologies, products or businesses and investments. Cowen and Cantor Fitzgerald & Co. acted as lead book-running managers for the offering. Suntrust Robinson Humphrey acted as a bookrunner. Oppenheimer & Co. Inc. acted as lead manager. H.C. Wainwright & Co. acted as co-manager.
Mersana Therapeutics Inc., of Cambridge, Mass., closed its public offering at $19 per share. The company sold 9.2 million shares, including the full exercise of the underwriters’ option to purchase additional shares, grossing the company approximately $174.8 million. Cowen and SVB Leerink acted as joint book-running managers for the offering. Wedbush Pacgrow acted as lead manager and Baird and H.C. Wainwright & Co. acted as co-managers for the offering.
Ourcrowd, of Jerusalem, launched a crowd-funded Pandemic Innovation Fund with plans to raise $100 million to invest in companies developing solutions for COVID-19 and future pandemics. The investments will include companies working on prevention, containment and treatment of disease, as well as companies looking for solutions to help with the continuation of work during pandemics, such as remote working and distance learning.
Outlook Therapeutics Inc., of Monmouth, Junction, N.J., closed its private placement of 16 million shares at $1 per share to Syntone Ventures LLC. The company plans to use the proceeds for working capital and general corporate purposes, including development of Lytenva (bevacizumab-vikg) for wet age-related macular degeneration; approximately $900,000 of the proceeds will be used to fund the initial capital contribution to the planned joint venture with Syntone in China.
Pliant Therapeutics Inc., of South San Francisco, priced its IPO of 9 million shares at $16 per share, grossing the company $144 million. The underwriters have a 30-day option to purchase up to an additional 1.35 million shares. The company also sold 625,000 shares in a concurrent private placement to Novartis Institutes for Biomedical Research Inc. at $16 per share. Citigroup, Cowen and Piper Sandler are acting as joint book-running managers for the IPO, and Needham & Co. is acting as lead manager for the offering, which is scheduled to close on June 5. Shares of Pliant (NASDAQ:PLRX) closed at $21.30 on its first day on the market.
Re-Vana Therapeutics Ltd., of Belfast, U.K., closed a $3.25 million pre-series A financing. The first tranche of $2.08 million was led by Exsight Ventures, with participation from Infocus Capital Partners and existing U.K. investors, including Techstart Ventures, Clarendon Fund Managers and Qubis Ltd. Visionary Ventures led the second closing round of $1.17 million, with participation from existing investors. Re-Vana plans to use the capital for proof-of-concept development of its photocrosslinked Eyelief and Oculief biodegradable technologies, as well as for the expansion of the company’s research and development team.
Shorla Pharma Ltd., of Clonmel, Ireland, said it completed a series A financing of $8.3 million led by Seroba Life Sciences with additional investment from Irish- and Canadian-based family offices and participation from Enterprise Ireland. Founded by Sharon Cunningham and Orlaith Ryan, both formerly with Eirgen Pharma Ltd., of Waterford, Ireland, Shorla aims to develop oncology drugs with a focus on rare, orphan and pediatric cancers. The financing will support advancement of the company’s pipeline and expansion of technical and commercial operations in Ireland and the U.S.
Foothill Ranch, Calif.-based Tae Life Sciences (TLS), a biological-targeting radiation therapy company developing next-generation boron neutron capture therapy solutions (BNCT), reported the launch of an in-house boron delivery drug development program supported by an influx of $30 million in funding. The initial phase of the B-round funds comes from a consortium of investors, including Artis Ventures, who led the company’s initial funding in 2018. The investment will enable TLS to move beyond the current boron-10 drug, BPA, and speed development of boron-10 target drugs at the same time that it hones its neutron beam accelerator technology for BNCT. BNCT is a particle therapy designed to selectively destroy cancer cells without damaging neighboring healthy cells. TLS said it is the only company to focus on the parallel development of new boron-10 drugs and a neutron accelerator system, a combination aimed at difficult-to-treat cancers.