Amryt Pharma plc, of Dublin, said it filed an F-1 statement with the SEC to list American depositary shares (ADSs) on Nasdaq under the symbol AMYT at the ratio of five ordinary shares per ADS. The company’s ordinary shares trade on the AIM of the London Stock Exchange under the ticker AMYT and on the Euronext Growth Exchange as AYP. Timing of the listing was not disclosed. On June 24, AMYT shares closed at £1.57 (US$1.95) apiece for a gain of 5 pence.
Arch Biopartners Inc., of Toronto, said it arranged a nonbrokered private placement of up to 900,000 common shares at CA$1.50 (US$1.10) apiece for gross proceeds of US$1 million. Net proceeds are expected to support the phase II trial of lead candidate Metablok (LSALT peptide), a dehydropeptidase-1 modulator aiming to prevent acute lung and kidney injury in individuals with COVID-19 infection. The offering is expected to close by June 30. The company’s shares (TSXV:ARCH) closed on June 24 flat at CA$1.52.
Asclepix Therapeutics Inc., of Baltimore, said it closed a $35 million series A financing led by Perceptive Xontogeny Venture (PXV) Fund with participation from the Perceptive Life Sciences Fund, both managed by Perceptive Advisors, and existing investors Rapha Capital Management and Barer & Son Capital. Proceeds will fund phase I/IIa trials of AXT-107, which has a dual mechanism VEGF and Tie2, for the treatment of diabetic macular edema, wet age-related macular degeneration and macular edema secondary to retinal vein occlusion. Co-founded by Johns Hopkins University School of Medicine researchers Aleksander Popel and Jordan Green, Asclepix is led by interim CEO Kevin Slawin, founder of Rapha Capital. In conjunction with the financing, Chris Garabedian, PXV Fund manager, and Ben Askew, R&D partner at Xontogeny, joined the Asclepix board.
Basilea Pharmaceutica Ltd., of Basel, Switzerland, said it launched a placement of CHF100 million (US$105.6 million) in senior unsecured convertible bonds due 2027 with an option to increase the offering by up to CHF25 million at the company’s discretion on the pricing date. The bonds are expected to carry a coupon of 2.75% to 3.75% per annum and a conversion price set at a premium of 25% to 30% over the reference share price. Basilea said proceeds will extend the company’s debt maturity profile and optimize its debt structure, targeting a portion of its outstanding senior unsecured convertible bonds due 2022. The tender offer period is expected to begin on July 10 and to expire on July 16. Basilea expects to apply for the bonds to be admitted for listing and trading on the SIX Swiss Exchange, with provisional trading expected to begin by July 28, following payment and settlement of the bonds. Goldman Sachs International and UBS are joint global coordinators and joint bookrunners on the offering.
Bioaegis Therapeutics Inc., of Morristown, N.J., said it completed an oversubscribed $5 million nonbrokered bridge financing to accelerate the phase II trial of recombinant human plasma gelsolin to treat severe pneumonia related to COVID-19 infection. The company expects to initiate a proof-of-concept study in the EU this month and is preparing for additional studies in the U.S.
Biosig Technologies Inc., of Westport, Conn., said it inked agreements with institutional and accredited investors for a registered direct offering of approximately 2.2 million common shares at $8 apiece for expected gross proceeds of $17.5 million. The Special Equities Group LLC, a division of Bradley Woods & Co. Ltd., acted as placement agent for the transaction, which is expected to close by June 26. The company’s shares (NASDAQ:BSGM) closed at $7.58 on June 24 for a loss of $2.13.
Compass Therapeutics LLC, of Cambridge, Mass., said it closed a $60 million private placement and completed a reverse merger with Olivia Ventures Inc., which was formed by Montrose Capital. The surviving entity was named Compass Therapeutics Inc. Existing Compass investors that included Orbimed, F-Prime Capital, Borealis Ventures, Cowen Healthcare Investments, Peter Thiel, Biomatics Capital, Ulysses Diversified Holdings and Biomed Realty Ventures invested alongside new investors led by Consonance Capital and Limulus. Raymond James, B. Riley FBR and Katalyst Securities LLC were placement agents.
Cyclica Inc., of Toronto, said it closed a CA$23 million (US$16.9 million) series B financing led by Drive Capital with participation from Chiesi Farmaceutici, Greensky Capital and members of Cyclica's management team. The funding is expected to support continued innovation around the company’s integrated proteome-wide drug discovery platform, to expand application of the platform in the pharma industry and to support its expansion into adjacent sectors, such as agro-chemicals. Cyclica is seeking to create and own drug discovery programs across multiple therapeutic areas, created via spin-outs and joint ventures with research institutions, such as the March 2020 launch, with partner Neurotheryx Canada Ltd., of Toronto, of Nineteengale Therapeutics to find and develop cannabinoid-inspired drugs for bipolar disorder, anxiety and pain management.
Editas Medicine Inc., of Cambridge, Mass., said it priced an underwritten offering of 6 million common shares at $31.25 apiece for expected gross proceeds of approximately $187.5 million and granted the underwriter a 30-day option to purchase up to 900,000 additional shares. Morgan Stanley is sole bookrunner for the offering, which is expected to close by June 26. Shares of Editas (NASDAQ:EDIT) lost $3.61 on June 24, closing at $30.73.
Forma Therapeutics Holdings Inc., of Watertown, Mass., said it closed its IPO of 16 million common shares priced at $20 apiece, including full exercise by underwriters of their option to purchase up to about 2.1 million additional shares, to raise gross proceeds of approximately $319.3 million. Jefferies, SVB Leerink and Credit Suisse were joint book-running managers. The company’s shares (NASDAQ:FMTX), which gained 95% on their opening day on June 19, defied downward market trends on June 24 to gain $2.52 and close at $43.72.
Hyloris Pharmaceuticals SA, of Liège, Belgium, said it narrowed the price range of its IPO, initially €10 to €11.50, to a range of €10.75 to €11.50 per share. The offering period began on June 17 and is expected to end no later than June 25 for retail investors and June 26 for institutional investors.
Reata Pharmaceuticals Inc., of Plano, Texas, said it closed a strategic investment of $350 million from funds managed by Blackstone Life Sciences that included $300 million in return for single-digit royalty payments on global net sales of nuclear factor erythroid-2 related factor 2 activator bardoxolone methyl by Reata and its licensees, excluding Kyowa Kirin Co. Ltd., and a $50 million investment in 340,793 shares of Reata’s class A common stock at $146.72 per share. On June 24, Reata’s shares (NASDAQ:RETA) lost $9.32 to close at $162.99.
Repare Therapeutics Inc., of Cambridge, Mass., said it closed its upsized IPO of 12.65 million common shares, which included the full exercise by underwriters of their option to purchase up to 1.65 million additional shares, at $20 apiece for gross proceeds of $253 million. Morgan Stanley, Goldman Sachs & Co. LLC, Cowen and Co. and Piper Sandler & Co. were joint book-running managers. On June 24, the company’s shares (NASDAQ:RPTX) closed at $32.90, down 5 cents.
Simcha Therapeutics Inc., of New Haven, Conn., launched with $25 million in series A financing. The company’s lead program involves a customized variant of interleukin-18 (IL-18), a cytokine with antitumor effects, developed in the lab of scientific founder Aaron Ring, assistant professor of immunobiology at the Yale School of Medicine. The biology and preclinical profile of that molecule, which Simcha expects to advance to the clinic in the first half of 2021, is described in detail in a scientific paper published June 24, 2020, in Nature.
Soleno Therapeutics Inc., of Redwood City, Calif., said it priced an underwritten public offering of about 30.3 million common shares at $1.65 apiece for expected gross proceeds of approximately $50 million. The company granted underwriters a 30-day option to purchase up to about 4.5 million additional shares to fill overallotments. Net proceeds will be used primarily to fund R&D efforts for lead candidate, diazoxide choline controlled-release tablets to treat Prader-Willi syndrome, through late-stage development, regulatory approval and market development activities. In June, the candidate missed the primary endpoint of change from baseline in hyperphagia, or insatiable hunger, in the phase III DESTINY PWS (C601) trial but showed improvement vs. placebo in key secondary endpoints of improvement in Clinical Global Impression of Improvement score and reduction of body fat mass. Guggenheim Securities LLC is sole bookrunner, with Oppenheimer & Co. Inc. as lead manager and Laidlaw & Co. (UK) Ltd. as co-manager for the offering, which is expected to close by June 26. The company’s shares (NASDAQ:SLNO) gained 6 cents on June 24 to close at $1.87.