After 13% discount Innate Pharma raises $69M; AZTherapies bags $26.3M from Series C financing round
→ AstraZeneca-partnered French biotech Innate Pharma — which was shooting for a $100 million IPO by offering 10.7 millions shares at $7.50 per share last month — has raised $69 million in the US by offering 12.5 million shares at $5.50 (€4.97), a 13% discount to its prior closing price on Euronext Paris (€5.71; ticker $IPH). Citi, SVB Leerink and Evercore ISI were the lead managers. The company plans to list on the Nasdaq under the symbol $IPHA.
→ Brain health-focused AZTherapies has closed a Series C financing round with $26.3 million in the bag. The funding will be used toward the completion of COGNITE, a Phase III clinical trial investigating the safety and efficacy of the company’s lead candidate ALZT-OP1 in patients with early Alzheimer’s disease — and is being conducted under a Special Protocol Assessment with the FDA. The round was co-led by Spinnaker Capital and Cosine, along with new and existing partners, such as DRADS Capital, IBS Capital and Wexford Capital.
→ Life sciences company Selexis SA and biologics developer Teneobio have inked three commercial license agreements for the development of Teneobio’s human heavy-chain antibodies (UniAbs) — a class of multi-specific biologics for the treatment of multiple myeloma, lymphoma and prostate cancer. The deal further expands an established relationship between the two companies, which includes a service agreement signed in December 2018.
→ Ascentage Pharma has set terms for its Hong Kong IPO, proposing to sell 12.2 million shares between HKD32.2 and 34.2. At the midpoint, the biotech would raise $51.6 million at a valuation of $876.4 million to bankroll its apoptosis work. It first filed with the HKEX last August but refiled this April.