OrbiMed | Jotup

Lexicon Announces Oversubscribed $250 Million Private Placement of Equity Securities

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星期一, 三月 11, 2024

Investment, Sale, SVB Securities, Research, OrbiMed, Security (finance)

THE WOODLANDS, Texas, March 11, 2024 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) (“Lexicon”) today announced it has entered into a securities purchase agreement (the “purchase agreement”) for a private investment in public equity financing that is expected to result in gross proceeds of approximately $250 million, before deducting placement agent fees and offering expenses.

Key Points:

THE WOODLANDS, Texas, March 11, 2024 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) (“Lexicon”) today announced it has entered into a securities purchase agreement (the “purchase agreement”) for a private investment in public equity financing that is expected to result in gross proceeds of approximately $250 million, before deducting placement agent fees and offering expenses.
Subject to Lexicon stockholder approval, each share of Series A Convertible Preferred Stock will automatically convert into 50 shares of common stock.
The private placement is expected to close on or about March 13, 2024, subject to customary closing conditions.
The securities to be sold in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state or other applicable jurisdiction's securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions' securities laws.

BiomX Announces Entry into Merger Agreement with Adaptive Phage Therapeutics and Concurrent $50 Million Financing

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星期三, 三月 6, 2024

Conference call, Pseudomonas aeruginosa, DFO, Staphylococcus, Infection, Biotechnology, Cystic fibrosis, EST, NESS, Sale, Conference, Staphylococcus aureus, Amputation, Cystic Fibrosis Foundation, Phage therapy, Patient, APT, OrbiMed, Pharmaceutical industry

CAMBRIDGE, Mass. and NESS ZIONA, Israel, March 06, 2024 (GLOBE NEWSWIRE) -- BiomX Inc. (NYSE American: PHGE) (together with its subsidiaries and/or associates, “BiomX”), a clinical-stage company advancing novel natural and engineered phage therapies that target specific pathogenic bacteria, today announced that it has entered into a definitive merger agreement with Adaptive Phage Therapeutics, Inc. (“APT”), a U.S.-based privately-held, clinical-stage biotechnology company pioneering the development of phage-based therapies to combat bacterial infections (the “Acquisition”). Immediately after the effective time of the Acquisition, and before giving effect to the concurrent private placement the former stockholders of BiomX will own approximately 55% and the former stockholders of APT will own approximately 45% of the consolidated entity of BiomX and APT. The Acquisition is expected to close within the next 30 days, subject to the satisfaction of the closing conditions described in the definitive merger agreement. Concurrently with entering into the definitive merger agreement, BiomX entered into a definitive purchase agreement for the sale of shares of newly created non-voting convertible preferred stock (“Series X Preferred Stock”) and warrants to purchase shares of BiomX common stock in a private placement to certain institutional accredited investors led by affiliates of Deerfield Management Company and the AMR Action Fund, and additional investors including the Cystic Fibrosis Foundation, OrbiMed and Nantahala Capital. The private placement is expected to result in gross proceeds to BiomX of $50 million before deducting placement agent and other offering expenses. The proceeds from the private placement are expected to provide funding through the results from a planned Phase 2b trial that will evaluate BiomX’s lead product candidate, BX004, for the treatment of chronic pulmonary infections caused by Pseudomonas aeruginosa (P. aeruginosa) in CF patients expected in the third quarter of 2025 and Phase 2 results from APT’s clinical-stage product candidate, now named BX211, for the treatment of Staphylococcus aureus (S. aureus) infections in DFO patients expected in the first quarter of 2025. The private placement is expected to close substantially concurrently with, and subject to the closing of, the Acquisition.

Key Points:

Immediately after the effective time of the Acquisition, and before giving effect to the concurrent private placement the former stockholders of BiomX will own approximately 55% and the former stockholders of APT will own approximately 45% of the consolidated entity of BiomX and APT.
The Acquisition is expected to close within the next 30 days, subject to the satisfaction of the closing conditions described in the definitive merger agreement.
The private placement is expected to result in gross proceeds to BiomX of $50 million before deducting placement agent and other offering expenses.
The private placement is expected to close substantially concurrently with, and subject to the closing of, the Acquisition.

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation into the Fairness of the Acquisition of Kinnate Biopharma Inc. by XOMA Corporation

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星期五, 三月 1, 2024

Foresite Capital, Acquisition, KNTE, Person, Telephone, Sale, LLP, OrbiMed

You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the acquisition of Kinnate by XOMA Corporation (“XOMA”).

Key Points:

You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the acquisition of Kinnate by XOMA Corporation (“XOMA”).
As a result of the merger, Kinnate stockholders will receive $2.3352 per share in cash and additional cash up to $0.2527 per share, plus a contingent value right.
To learn more about the action and your rights, go to:
or contact Joseph E. Levi, Esq.
Levi & Korsinsky is a nationally recognized firm with offices in New York, Connecticut, California, and Washington, D.C.

BlossomHill Therapeutics Closes $100 Million Series B Financing

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星期四, 二月 29, 2024

BlossomHill Therapeutics, Inc. , a biotechnology company focused on the design and development of small molecule medicines for treating cancer and autoimmune diseases, today announced the closing of a $100 million Series B financing round.

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BlossomHill Therapeutics, Inc. , a biotechnology company focused on the design and development of small molecule medicines for treating cancer and autoimmune diseases, today announced the closing of a $100 million Series B financing round.
In conjunction with the financing round, Sundeep Agrawal, M.D., General Partner at Colt Ventures, and Timothy Stubbs, M.D., Principal at Vivo Capital, will join the BlossomHill Board of Directors.
This financing brings the total capital raised by the company to $173 million.
“We appreciate the strong support from our new and existing investors in this round of financing,” said J. Jean Cui, Ph.D., President and Chief Executive Officer of BlossomHill Therapeutics.

Find Therapeutics Announces Appointment of Dr. Anthony Johnson to its Board of Directors

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星期一, 三月 4, 2024

University, OrbiMed, Pharmacology, AstraZeneca, MD, University of Cambridge, Royal Australasian College, Bristol Myers Squibb, BMS, Homerton College, Cambridge, Therapy, Find, Royal college, Internal medicine, GSK plc, MBBS, Physician, Discovery Medicine, Pharmaceutical industry

"On behalf of the Board of Directors, I am delighted to welcome Tony to the team," said Philippe Douville, President and CEO of Find Therapeutics.

Key Points:

"On behalf of the Board of Directors, I am delighted to welcome Tony to the team," said Philippe Douville, President and CEO of Find Therapeutics.
He currently serves as President and CEO of Domain Therapeutics, Chairman of the Board for Outrun Therapeutics and Board Director for Nanosyrinx.
Dr. Johnson was previously President and CEO of Goldfinch Bio and, prior to that, Head of Early Clinical Development.
Find Therapeutics also announces that Pascal Neuville, Ph.D., has stepped down from the board as a Non-Executive Director effective March 3, 2024.

Expert Systems Celebrates Completion of Single Dose Studies and Start of Multiple Human Dosing for Lomonitinib, a Selective Pan-FLT3/IRAK4 Inhibitor, Achieved in Just 3 Years

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星期五, 二月 23, 2024

Expert system, OrbiMed, Drug discovery, Therapy, CBO, Partnership

"Lomonitinib has demonstrated an exceptional safety profile, with no significant adverse events reported at doses achieving robust target engagement.

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"Lomonitinib has demonstrated an exceptional safety profile, with no significant adverse events reported at doses achieving robust target engagement.
This positions it as a leading best-in-class candidate for the treatment of FLT3-mutated AML," commented Bill Farley, CBO at Expert Systems.
"We are proud that our comprehensive hybrid AI-based platform has helped advance a new treatment like lomonitinib to clinical trials in just 3 years."
This effort is bolstered by leveraging Expert Systems' cutting-edge AI platform to speed up the discovery and development process.

Expert Systems Celebrates Accelerated Start of Human Dosing for Eiletoclax, a Selective BCL2 Inhibitor, Achieved in Just 3 Years

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星期三, 二月 21, 2024

Expert system, OrbiMed, Drug discovery, BCL2, Bone marrow, Therapy, CBO, Pharmaceutical industry

This development marks a pivotal advance in the battle against hematologic malignancies, with eiletoclax gaining approval from the Human Research Ethics Committee in Australia for Phase 1 trials.

Key Points:

This development marks a pivotal advance in the battle against hematologic malignancies, with eiletoclax gaining approval from the Human Research Ethics Committee in Australia for Phase 1 trials.
"Eiletoclax stands out for its exceptional potency and selectivity against BCL2, along with an improved safety profile over venetoclax, underscoring its promise as a best-in-class cancer treatment," commented Bill Farley, CBO at Expert Systems.
"We're very proud that our comprehensive hybrid AI-based platform has helped advance a new treatment like eiletoclax to clinical trials."
This effort is bolstered by leveraging Expert Systems' cutting-edge AI platform to speed up the discovery and development process.

Valneva Reports Full Year 2023 Revenue and Cash, Provides First 2024 Guidance

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星期四, 二月 15, 2024

Total, Bavarian Nordic, Investment, Cash, Growth, Sale, Government, VLA, COVID-19, COVID, Third party, PRV, Chikungunya, Bank statement, Euronext Paris, Travel, OrbiMed

The Company will publish its 2023 audited consolidated financial statements on March 20, 2024.

Key Points:

The Company will publish its 2023 audited consolidated financial statements on March 20, 2024.
Peter Bühler, Valneva’s Chief Financial Officer, commented, “In 2023, Valneva successfully executed on key strategic objectives despite a difficult economic environment.
Total revenues in 2022 included €280.0 million of revenue recognition mainly related to the COVID-19 supply agreements in the prior year.
Other income is anticipated between €95 million and €105 million, including the PRV sold in early 2024 for €95 million.

BioAge Announces $170 Million Oversubscribed Series D Financing to Accelerate Development of Obesity and Metabolic Disease Therapeutics

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星期二, 二月 13, 2024

BioAge Labs (“BioAge”), a clinical-stage biotechnology company developing novel therapies for obesity and metabolic diseases by harnessing the biology of aging, announced today the completion of an oversubscribed Series D financing round of $170 million led by Sofinnova Investments.

Key Points:

BioAge Labs (“BioAge”), a clinical-stage biotechnology company developing novel therapies for obesity and metabolic diseases by harnessing the biology of aging, announced today the completion of an oversubscribed Series D financing round of $170 million led by Sofinnova Investments.
In connection with the financing, James Healy, M.D., Ph.D., managing partner at Sofinnova Investments, will join BioAge as Chairman of the Board, and Patrick Enright, managing director at Longitude Capital, will join as Board Director.
In preclinical studies, azelaprag doubled the weight loss achieved on incretin drugs with improvements in body composition and muscle function.
“We’re thrilled to partner with a top-tier syndicate of investors and pharma companies at the forefront of developing novel therapeutics for metabolic diseases,” said Kristen Fortney, Ph.D., CEO and co-founder of BioAge.

DIH Announces $1.5 million Private Placement Financing from OrbiMed

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星期五, 二月 9, 2024

DIH, OrbiMed, SAN, Virtual reality, Sale, Rehabilitation

and SAN FRANCISCO, Feb. 08, 2024 (GLOBE NEWSWIRE) -- DIH Holding US, Inc. (Nasdaq: DHAI), a leading global robotics and virtual reality (“VR”) technology provider in the rehabilitation and human performance industry, today announced a private placement of common stock resulting in gross proceeds of $1.5 million.

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and SAN FRANCISCO, Feb. 08, 2024 (GLOBE NEWSWIRE) -- DIH Holding US, Inc. (Nasdaq: DHAI), a leading global robotics and virtual reality (“VR”) technology provider in the rehabilitation and human performance industry, today announced a private placement of common stock resulting in gross proceeds of $1.5 million.
OrbiMed, an existing shareholder in DIH Technologies, was the sole participant in the financing.
“We are thrilled to partner with OrbiMed, a long-term private investor in DIH, in advance of our initial trading day as a public company.
This financing will provide additional working capital for the expansion of our global commercial strategy and growth initiatives,” said Jason Chen, Chairman and Chief Executive Officer of DIH.