De­nali’s $500M place­ment; Brain health start­up rais­es $26M

Plus, news about Healis Ther­a­peu­tics, NRx Phar­ma­ceu­ti­cals, and Nu­va­lent:

De­nali Ther­a­peu­tics’ $500M PIPE: The com­pa­ny is sell­ing near­ly 30 mil­lion shares at $17.06 apiece. Bak­er Broth­ers Life Sci­ences is the lead in­vestor in the PIPE, per SEC fil­ings, and will get a board seat. The fund­ing co­in­cides with De­nali say­ing it nabbed $12.5 mil­lion from a third par­ty last month for a LRRK2 pro­gram called BI­IB122; how­ev­er, De­nali will take the pro­gram for­ward alone in­to a Phase IIa tri­al. Bio­gen is con­tin­u­ing to run a Phase IIb tri­al, and the pair will com­mer­cial­ize the drug to­geth­er if it re­ceives FDA ap­proval. It pre­vi­ous­ly dis­con­tin­ued a Phase III study for the pro­gram last June. De­nali shares $DNLI rose rough­ly 10% pre­mar­ket on Tues­day. — Max Gel­man

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