4D Molecular Therapeutics Inc., of Emeryville, Calif., a clinical-stage company working on the development of precision-guided AAV gene medicines based on directed evolution, said it closed a $75 million series C financing led by Viking Global Investors, with participation from new investors including Amzak Health, Casdin Capital, Cystic Fibrosis Foundation, Longevity Vision Fund, Miraeasset Financial Group, Octagon Investments and Quad Investment Management. Existing investors also participated in the financing, including Arrowmark Partners, Berkeley Catalyst Fund, BVF Partners LP, Pappas Capital & Chiesi Ventures, Perceptive Advisors, Pfizer Ventures and Ridgeback Capital Investments. The proceeds will be used to advance three of the company’s precision-guided AAV gene therapy product candidates through initial proof-of-concept in patients, to advance its product pipeline and next-generation Therapeutic Vector Evolution platform and to expand its internal GMP manufacturing capabilities. The company said it expects to initiate clinical trials for 4D-310, its product candidate for the treatment of Fabry disease, and two ophthalmology product candidates: 4D-125 for the treatment of X-linked retinitis pigmentosa (XLRP), a wholly owned candidate subject to an exclusive option for Basel, Switzerland-based Roche Holding AG to develop and commercialize, and 4D-110, a candidate for the treatment of choroideremia, which is licensed to Roche.
Aveo Oncology Inc., of Boston, said it has begun an underwritten public offering of $40 million of shares of its common stock and intends to grant the underwriters a 30-day option to purchase up to an additional $6 million of shares. The net proceeds are expected to be used for working capital and general corporate purposes. The number of shares and share price have not yet been disclosed. Shares of Aveo (NASDAQ:AVEO) closed June 16 at $6.25, down $1.42.
Cardiff Oncology Inc., of San Diego, said it entered a securities purchase agreement, jointly led by biotech-focused fundamental institutional investors Acorn Bioventures and Cam Capital. The financing includes common stock, nonvoting series E preferred stock and warrants for aggregate gross proceeds of $13.5 million. The proceeds will be used to accelerate the development of onvansertib, a third-generation PLK1 inhibitor, being evaluated in combination with standard-of-care chemotherapy and targeted therapeutics.
Celldex Therapeutics Inc., of Hampton, N.J., said it priced its underwritten public offering of 13.37 million shares at $9.75 each. The underwriter has been granted a 30-day option to purchase up to an additional 2 million shares. The company expects to receive gross proceeds of approximately $130.4 million, and approximately $150 million assuming the full exercise of the underwriter’s option. It intends to use the net proceeds to continue clinical and preclinical development of its product candidates and for general corporate purposes. Shares of Celldex (NASDAQ:CLDX) closed June 16 at $10.25, down 46 cents.
Chemocentryx Inc., of Mountain View, Calif., said it completed its follow-on offering of 5.2 million shares of its common stock at $58 each and said underwriters exercised in full their option to purchase an additional 780,000 shares. The net proceeds were approximately $325.4 million.
Greenlight Biosciences Inc., of Boston, said it raised an oversubscribed $102 million round of funding from new and existing investors to expand production of its RNA products for agricultural and life sciences applications, including an expansion into new RNA-based therapies. The round was led by Morningside Ventures, with several new and existing top-tier investors participating. The investment follows on the heels of a $17 million special purpose round in May to accelerate large-scale manufacturing of future COVID-19 vaccines using the company's messenger RNA production technology. The new funding will drive the expansion of its human health efforts into new platforms such as RNA-based therapeutics.
Medincell SA, of Montpellier, France, which is developing a portfolio of long-acting injectable products in various therapeutic areas, said it raised a final amount of €15.6 million (US$17.58 million) through an offering to qualified investors by way of an accelerated book-building process. The funds will be used to finance the development of it product portfolio.
Noxxon Pharma NV, of Berlin, said it completed its capital increase by issuing new ordinary shares with exclusion of pre-emptive subscription rights via a private placement to European investors for about €1.3 million (US$1.5 million).
Oncolytics Biotech Inc., of San Diego, said it entered an at-the-market (ATM) equity offering sales agreement with Canaccord Genuity LLC that allows, at its sole discretion, to issue common shares from treasury, at prevailing market prices, with an aggregate gross sales amount of up to $40 million over the course of the next 25 months. Sales of the ATM offering will only be conducted in the U.S. through Nasdaq or another exchange at market prices.
Portage Biotech Inc., of Toronto, said it closed a nonbrokered private placement for gross proceeds of $6.78 million through the issuance of 678,860 common shares at $10 each.
Therapeutics Acquisition Inc., of Boston, filed to raise up to $100 million in an IPO. The firm intends to offer 10 million units at $10 per unit. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. The company plans to list on Nasdaq market under the symbol TXACU. Jefferies is the sole bookrunner.
Royalty Pharma Inc., of New York, raised $2.2 billion in an IPO by offering 77.7 million shares at $28 each. The company offered 7.7 million more shares than expected. J.P. Morgan, Morgan Stanley, Bofa Securities, Goldman Sachs, Citi, UBS Investment Bank, Evercore ISI, Cowen and Suntrust Robinson Humphrey acted as lead managers. The firm has listed on Nasdaq under the symbol RPRX, where shares ended their first day of trading June 16 at $44.50, for a gain of 59%.
Yumab GmbH, of Braunschweig, Germany, which said it previously identified fully human monoclonal antibodies with neutralizing activity against live coronavirus strain SARS-CoV-2 using its antibody discovery platform, disclosed the first financing round of its spin-off, Corat Therapeutics GmbH, to advance development of the COVID-19 antibody candidates. The specific amount was not disclosed, but financial investments were provided by the German Federal State of Lower Saxony and a group of private investors from Braunschweig. Corat will continue the preclinical development of the lead antibody candidate to potentially begin clinical development by the end of 2020.