Kintara Therapeutics Inc., of San Diego, (formerly Delmar Pharmaceuticals Inc.) said it entered into definitive agreements with investors providing for the sale of up to 2,435 shares of its series C convertible preferred stock at $1,000 per share in a private placement offering priced at-the-market under the rules of the Nasdaq Stock Market. The preferred stock is convertible into shares of Kintara common stock at a conversion price of $1.214 per share. The offering is expected to result in gross proceeds to Kintara of up to approximately $2.4 million and the net proceeds will support their registration study for VAL-083 in newly diagnosed and recurrent glioblastoma multiforme. The 15-patient REM-001 confirmatory lead-in study is intended to continue seamlessly into a phase III pivotal study for cutaneous metastatic breast cancer.
Science 37, of Los Angeles, said it closed an oversubscribed $40 million funding round led by existing investors Lux Capital, Redmile Group, and PPD Inc. The capital will support the company’s growth, expand its technology platform, and accelerate global expansion efforts. It is working with sponsors to undertake decentralized trials and enable patients to participate in trials from anywhere, without traveling to a traditional clinical site.