Deals this week: Frequency Therapeutics, Emerald Health Therapeutics, Immune System Regulation Holding
US-based small-molecule drug provider Frequency Therapeutics has completed a series A financing round to raise $32m in order to support expanded work to realise the disease-modifying potential of progenitor cell activation (PCA) beyond hearing loss.
Canadian-based medical marijuana provider Emerald Health Therapeutics intends to raise C$17.5m ($13.22m) from an underwritten public offering of units comprising one common share of the company and one-half common share purchase warrant.
The offering includes 9.46 million units priced at C$1.85 ($1.32) a unit.
Underwriters will be granted an option to purchase up to an additional 1.4 million units within 30 days of closure of the offering, in case of over-allotment, if any.
The proceeds will be invested to accelerate the expansion of the company’s facility, as well as for working capital and general corporate purposes.
Holders of the warrants will be entitled to purchase shares of the company at a price of C$2.6 ($1.94) a share for 24 months following the closure of the offering.
China Resources Development Group will develop and market Immune System Regulation Holding’s (ISR) drug candidates in HIV / AIDS in China, under a partnership agreement signed between the two.
ISR is a research company focused on immunotherapy, while China Resources Development Group is a conglomerate company.
US-based biopharmaceutical company Kadmon Holdings has announced its intention to raise funds through a public offering of equity.
The offering will include issuance of 23.7 million shares of common stock by the company’s selling stockholders.
Endo Designated Activity Company, Endo Finance and Endo Finco, the wholly owned subsidiaries of Irish pharmaceutical company Endo International, intend to raise funds through a private placement of senior secured notes.
The proceeds are intended to repay all outstanding loans of the company and fulfil other obligations under its existing credit facilities.
Chinese-based pharmaceutical company Teyi Pharmaceutical Group intends to raise ¥354m ($51.3m) in a private placement of convertible bonds.