Allovir Inc., of Cambridge, Mass., which recently filed with the SEC for an IPO of up to $100 million, has set terms for its offering and now plans to raise up to $251 million from the sale of 14.8 million shares at a price range of $16 to $18. It has in the works phase II and III trials of lead candidate Viralym-M, a multivirus-specific T-cell therapy targeting five viruses. The company is focusing initially on treating immunocompromised allogeneic hematopoietic stem cell transplant and solid organ transplant patients at high risk for life-threatening viral infections from the viruses targeted by Viralym-M. The Baylor College of Medicine spin-out previously reported positive data from a completed phase II trial. The proceeds also will fund planned trials of pipeline candidates ALVR-106, a virus-specific T-cell therapy targeting respiratory viruses, and allogeneic virus-targeted cell therapies ALVR-107 in chronic human hepatitis B virus, ALVR-108 in human herpes virus 8-associated diseases and ALVR-109 in COVID-19 infection. Allovir plans to list on Nasdaq under the symbol ALVR.
Immuron Ltd., of Melbourne, Australia, said it entered definitive agreements with several health care-focused institutional investors for the purchase and sale in a registered direct offering of 1.06 million American depositary shares (ADSs), each representing 40 of the company’s ordinary shares, at a purchase price of $18.75 per ADS. The gross proceeds are expected to be approximately $20 million.
Selva Therapeutics Inc., of San Diego, said it raised $3 million in a series A financing round from private investors. The proceeds will be used to advance SLV-213 into clinical trials as an oral drug candidate for the treatment of COVID-19. In addition, SLV-213 has the potential to be a treatment for multiple infectious diseases caused by other coronaviruses.