Deals this week: EryDel SPA, Cedilla Therapeutics, Sangamo

27th April 2018 (Last Updated August 12th, 2019 10:39)

Italian biotech company EryDel SPA has raised €6.5m ($32.4m) through venture financing in order to enhance its international development and to complete the ATTeST, a registrational phase three clinical trial.

Italian biotech company EryDel SPA has raised €6.5m ($32.4m) through venture financing in order to enhance its international development and to complete the ATTeST, a registrational phase three clinical trial.

The financing round was led by Sofinnova Partners SAS in association with Genextra SpA and Innogest SGR SpA.

Graziano Seghezzi, the managing partner of Sofinnova Partners, has been inducted as director of the EryDel’s board.

EryDel intends to use proceeds for conducting the clinical trial across Europe, Asia, Australia, and in the US.

Cedilla Therapeutics has raised $56.2m in series A financing from Third Rock Ventures, a venture capital firm.

The US-based biotechnology company proposes to use funds for targeting protein stability using small molecule therapeutics.

US-based Sangamo Therapeutics Inc plans to raise funds for supporting gene therapy, genome editing, cell therapy and gene regulation product candidates and research programmes.

The company has announced to issue shares of its common stock in an underwritten public offering to raise $200m for the same. The underwriters will be granted a 30-day option to buy additional shares worth $30m.

Sangamo Therapeutics expects to raise net proceeds of $187.7m through the offering.

The company also plans to use part of the proceeds for manufacturing facilities and other business development activities.

"Sangamo Therapeutics expects to raise net proceeds of $187.7m through the offering."

Merrill Lynch, Pierce, Fenner & Smith Inc, JP Morgan Securities LLC and Cowen and Company LLC have been appointed as joint book-running managers, while Cooley LLP has been appointed as legal advisor for the transaction.

US-based drug discovery and development company Revolution Medicines, Inc has raised $56m in a series B financing from a syndicate of investors led by Nextech Invest Ltd.

Casdin Capital LLC, Schroder Adveq, The Column Group LLC, Third Rock Ventures and additional undisclosed institutional investors also participated in the round.

Revolution Medicines proposes to use the proceeds for supporting its current research and development (R&D) programmes, and general corporate purposes.

UK-based ADC Biotechnology Ltd has raised £1.14m ($1.59m) through a private placement, which has been subscribed to by Downing LLP.

ADC Biotechnology uses the proceeds for reinforcing its business in the US and for developing new antibody-drug conjugates (ADC) manufacturing approach.

Canadian company Spectral Medical Inc has completed the issuance of 17,694,661 units in a private placement.

The units comprise one share and one-half of a share purchase warrant. The holders are entitled to acquire one additional share for each full warrant at an exercise price of C$0.45 ($0.35) a share within three years of the issue date.

The company has raised gross proceeds of C$5.3m ($4.14m) through the placement.

Proceeds are intended to be used for the clinical development of PMX cartridge and for FDA regulatory approval of the same. Part of the proceeds will also be used for general corporate purposes.