89bio Inc., of San Francisco, said it has begun an underwritten public offering of 3 million shares of its common stock, which includes 2.7 million shares offered by the company and 300,000 shares offered by certain of the company’s stockholders. In addition, the company and a selling stockholder is expected to grant the underwriters of the offering an option for a period of 30 days to purchase up to an additional 175,000 shares of common stock and 275,000 shares of common stock, respectively, at the public offering price. The company intends to use the net proceeds, along with its existing cash and cash equivalents, to accelerate and support its BIO89-100 programs in nonalcoholic steatohepatitis and severe hypertriglyceridemia, for the manufacture and scale up of BIO89-100, and for other general corporate purposes.
Ansa Biotechnologies Inc., of Berkeley, Calif., said it raised $7.9 million in an oversubscribed seed round of funding led by Horizons Ventures, with participation from Mubadala Capital, Humboldt Fund and additional investors. The investment will help accelerate the development of the company’s next-generation DNA synthesis technology. Ansa will use the funds to recruit talent, build out R&D facilities and establish industrial partnerships.
Aziyo Biologics Inc., of Silver Spring, Md., which is developing regenerative medicine products, has filed to raise up to $58 million in an IPO. It recently launched its Ostegro V, a viable cell bone matrix supporting bone repair. It plans to list its shares on Nasdaq under the symbol AZYO.
Hexagon Bio Inc., of Menlo Park, Calif., said it closed a $47 million series A financing round led by The Column Group, with participation from 8VC and Two Sigma Ventures. The company has a molecule discovery platform that uses data science, genomics and synthetic biology to discover potent, evolutionarily refined secondary metabolites and their protein targets from fungal genomes. It will use the series A funding to develop a proprietary genomics database of new secondary metabolites, and to build a drug discovery team to develop those compounds with an initial therapeutic focus on oncology and infectious disease.
Humanigen Inc., of Burlingame, Calif., said it has started an underwritten public offering of 8 million shares and expects to grant the underwriters a 30-day option to purchase up to an additional 1.2 million shares. The company intends to use the net proceeds to support its manufacturing, production and commercial preparation activities relating to lenzilumab as a potential therapy for COVID-19 patients and for general corporate purposes. It has also received approval from Nasdaq for its common stock to begin trading on the Nasdaq Capital Market under the symbol HGEN on the trading day immediately following the pricing of the offering of the shares. Humanigen’s common stock currently trades on the OTCQB Venture Market under the symbol HGEND.
Imcheck Therapeutics SAS, of Marseille, France, said BB Pureos Bioventures has joined the company’s series B syndicate, adding an investment of €6 million (US$7.1 million) to bring the final close on the round to €54 million. This month, the company announced that the independent safety review committee unanimously approved the next stage of development for its phase I/IIa trial, evaluating ICT-01, a potentially first-in-class gamma delta T-cell activating monoclonal antibody. ICT-01 targets the extracellular domain of butyrophilin 3A, a member of the butyrophilin superfamily of immunomodulatory targets.
Novaremed AG, of Basel, Switzerland, said it has raised CHF2.5 million (US$2.8 million) from its existing shareholders in an oversubscribed new financing round. The proceeds will be used to prepare for the initiation of a U.S. phase IIb study of its drug candidate, NRD-135S.E1, for the treatment of painful diabetic peripheral neuropathy.
Proteodesign SL, of Barcelona, Spain, said it is rebranding as Splice Bio to reflect on its progress with its intein platform, and its new focus on gene therapy. It has received a new undisclosed investment led by Ysios Capital and joined by Asabys Partners. The proceeds will be used to develop its platform technology that has the potential to address two existing limitations of adeno-associated viruses as vectors for gene therapy, both by increasing the size of the cargo gene that can be delivered and by expanding the range of tissues that can be targeted.
Sunshine Biopharma Inc., of Montreal, said it received the first tranche of $250,000 as part of a committed minimum financing of $2 million with RB Capital Partners Inc. that has agreed to provide funding in the form of convertible promissory notes bearing a 5% interest rate and fully convertible into shares. The proceeds will be used for development of the company’s coronavirus treatment on a priority basis and the clinical development of Adva-27a, a compound targeting pancreatic cancer.