Acceleron Pharma Inc., of Cambridge, Mass., said it is planning to offer and sell, subject to market and other conditions, $400 million of its common stock in an underwritten public offering. The underwriters will also receive a 30-day option to purchase up to an additional 15% of the shares.
Aditx Therapeutics Inc., of Loma Linda, Calif., which is developing technologies specifically focused on improving the health of the immune system through immune reprogramming and monitoring, said it priced its IPO of 1.22 million units at $9 each. Each unit will immediately separate into one share of common stock, one series A warrant that will allow the holder to purchase one share at an exercise price of $9, and one series B warrant exercisable at $11.25 per share. In addition, the company has granted the underwriters a 45-day option to purchase up to an additional 184,000 shares of common stock and/or series A warrants to purchase up to an aggregate of 184,000 shares of common stock and series B warrants to purchase up to an aggregate of 184,000 shares of common stock, in any combinations at the public offering price. The shares separated from the unit and immediately began trading on Nasdaq under the ticker symbol ADTX, closing June 30 at $5.06, down 44%.
Antibe Therapeutics Inc., of Toronto, said it closed a bought deal public offering of 62.5 million units at CA40 cents each plus the exercise in full of the underwriters' overallotment option of 9,375 units for aggregate gross proceeds of CA$28.75 million (US$21.12 million). The company intends to use the net proceeds to fund certain activities required to support large market partnering and begin a phase III program for ATB-346 in chronic pain and inflammation, for business development activities, and for advancing the other drugs in the pipeline. The remainder will be used for working capital and general corporate purposes.
Arch Biopartners Inc., of Toronto, said it closed a nonbrokered private placement and issued 900,000 common shares at CA$1.50 each for net proceeds of CA$1.35 million (US$1 million). The funds will be used to support the phase II trial for its lead drug, Metablok (LSALT peptide), to prevent acute lung and kidney injury experienced by patients with COVID-19.
Cel-Sci Corp., of Vienna, Va., said that, during the quarter, it received approximately $10 million from the exercise of warrants. The funds will support the completion of the expansion of its Multikine (leukocyte, interleukin) cancer immunotherapy manufacturing facility near Baltimore in anticipation of a BLA submission and subsequent marketing approval.
Cohbar Inc., of Menlo Park, Calif., said it raised net proceeds of approximately $4.4 million through an at-the-market sale of shares.
Crispr Therapeutics AG, of Zug, Switzerland, said it is conducting an underwritten public offering of $325 million of common shares. In addition, the underwriters will have a 30-day option to purchase up to an additional $48.75 million of common shares at the public offering price less the underwriting discount.
Evecxia Inc., of Research Triangle Park, N.C., said it completed its series A financing, raising $6.5 million that will be used to fund the early development of EVX-101, an oral slow-release formulation of 5-hydroxytryptophan, its lead clinical-stage product candidate for the adjunctive treatment of depression in patients responding inadequately to first-line antidepressants. The company has dosed the first subject in EVX101-101, a phase I study to assess the pharmacokinetics of EVX-101 in healthy volunteers. It is working with Tempus, a technology company advancing precision medicine through the practical application of artificial intelligence in health care, to integrate genetic, metabolomic, biochemical and clinical data for deeper analysis.
Goldfinch Bio Inc., of Cambridge, Mass., said it closed an oversubscribed series B financing, which raised $100 million. Proceeds from the round will help it advance its TRPC5 inhibitor, GFB-887, and its CB1 inverse agonist, GFB-024, through three potential clinical proof-of-concept readouts, in focal segmental glomerulosclerosis and diabetic nephropathy, and in CB-1-mediated DN, respectively. It will also support continued development of Goldfinch’s discovery platform and preclinical pipeline, the company said. Eventide Asset Management led the round, which also included new investors Wellington Management Co., Ally Bridge Group, funds and accounts managed by Blackrock, Casdin Capital LLC and Irving Investors, along with existing investors Foster City, Calif.-based Gilead Sciences Inc., Yonjin Capital, Schroeder Adveq and other undisclosed institutional investors.
Iterum Therapeutics plc, of Dublin and Chicago, said it expected to raise gross proceeds of $5 million from a registered direct offering intended to support continued clinical development of sulopenem, a penem beta-lactam antibiotic it is developing for the potential treatment of uncomplicated urinary tract infections. Institutional investors agreed to purchase about 3.4 million ordinary shares (NASDAQ:ITRM) for $1.48 each. The company also issued warrants to purchase up to about 1.7 million ordinary shares in a private placement. H.C. Wainwright & Co. served as the offering's placement agent.
Magenta Therapeutics Inc., of Cambridge, Mass., said it closed an underwritten public offering of about 8.6 million shares of its common stock (NASDAQ:MGTA), including the exercise in full by the underwriters of their option to purchase an additional 1.1 million shares, at $8 per share. Gross proceeds are expected to be $69 million. Magenta intends to use the net proceeds to advance its clinical- and earlier-stage programs and for research and development, working capital and general corporate purposes. Goldman Sachs & Co. LLC and Cowen acted as joint book-running managers for the offering.
Nantkwest Inc., of El Segundo, Calif., announced the closing of an underwritten public offering of about 8.5 million shares of its common stock (NASDAQ:NK), which raised gross proceeds of about $90.7 million. Piper Sandler & Co. acted as the sole book-running manager for the offering.
Oncology Venture A/S, of Hørsholm, Denmark, said it will issue about 1.6 million shares priced at SEK1.27 (US$0.14) to Negma Group Ltd. in order to comply with the company's existing convertible loan note agreement.
Pharmenable Ltd., a Cambridge, U.K.-based spinout of the University of Cambridge that has developed technology to predict improved small-molecule hits to targets across a range of disease areas, has closed a £1.8 million (US$2.2 million) seed financing. It said the fund would help support its transition into a drug development company.
Predictive Oncology Inc., of Minneapolis, raised gross proceeds of $2.2 million after warrant holders exercised their options to buy about 1.4 million shares (NASDAQ:POAI) in the company at $1.58 per share. In consideration for the immediate exercise of the existing warrants for cash, the exercising holders received new unregistered warrants to purchase up to about 1.4 shares of common stock at an exercise price of $1.80 per share. The company expects to use net proceeds from the offering for working capital and general corporate purposes. H.C. Wainwright & Co. acted as the exclusive placement agent.
Redx Pharma plc, of Cheshire, U.K., said it is raising $30 million through the issue of $29 million of sterling denominated convertible loan notes to funds managed or advised by Redmile Group and Sofinnova Partners and a direct share subscription by Sofinnova of £812,000 (US$996,500) for new ordinary shares. The company said $19 million of loan notes will be issued to Redmile and $10 million loan notes will be issued to Sofinnova. Net proceeds of the loan and share subscription will be used to repay the £5 million short-term debt owed to Redmile and to progress the company’s drug development programs in oncology and fibrosis to key value inflection points, the company said.
Taiwan Liposome Co. (TLC), of Taipei, Taiwan, closed its 2020 cash capital offering of ordinary shares in Taiwan. The offering consisted of 10 million new ordinary shares issued at a price of NT$68 per share for gross proceeds of NT$680 million (about US$23 million).
Vaxil Biotech, of Ness Ziona, Israel, said the closing date of its brokered private placement of 58.8 million shares has been extended to July 17. The company said it would raise minimum gross proceeds of $2 million. The funds will be used by the company for continued preclinical research supporting development of its pipeline, including a COVID-19 vaccine candidate, oncology and other infectious disease immunotherapies, as well as for general corporate purposes.