Deals this week: Trevena, Compugen, Biohaven Pharmaceutical

22nd June 2018 (Last Updated June 22nd, 2018 00:00)

Trevena plans to raise $175m through a public offering of securities.

Trevena plans to raise $175m through a public offering of securities.

Trevena plans to issue common stock, debt securities, and other warrants from time to time in a single or multiple offerings.

The company plans to use the funds raised towards product development, acquisitions, working capital and other general corporate purposes.

Based in the US, Trevena is a biopharmaceutical company focused on the development of G-protein coupled receptors (GPCR) biased ligands.

Biohaven Pharmaceutical Holding Company has raised $50m through the private placement of 1.1 million shares of its common stock priced at $45 a share.

The company has also sold sales-based participation rights for its rimegepant (BHV-3000) product indicated for the treatment of acute migraine to Royalty Pharma for $100m.

The two transactions bring the company’s total funding to $150m, which will be used towards the Phase II development of BHV-3500 and for the development of clinical infrastructure.

Based in the US, Biohaven is a clinical stage company that develops drug candidates for the treatment of neurological diseases.

Sullivan & Cromwell acted as legal adviser to Biohaven, while Goodwin Procter and Jones Day were appointed as legal advisers to Royalty Pharma for the transaction.

WindMIL Therapeutics has raised $32.5m through a series B financing round provided by Qiming Venture Partners USA.

The funding round also included the participation of new investors Medivate Partners and Camden Partners Nexus, and existing investors Domain Associates and FOXKISER.

Based in the US, WindMIL is a clinical-stage biotechnology company focused on the development of immunotherapies for the treatment of cancer.

The company plans to use the funds to support the development of marrow-infiltrating lymphocytes (MILs) in unmodified and genetically modified forms.

Galmed Pharmaceuticals has raised $75m through an underwritten public offering of five million ordinary shares priced at $15 a share.

The underwriters will receive a 30-day option to buy an additional 750,500 shares.

The offering will be closed in June, subject to customary closing conditions.

"Biohaven Pharmaceutical Holding Company has raised $50m through the private placement of 1.1 million shares of its common stock priced at $45 a share."

McDermott Will & Emery was appointed as legal adviser to the company for the offering.

Based in Israel, Galmed is a clinical-stage biopharmaceutical company that develops novel drugs for the treatment of liver diseases.

The company plans to use the funds towards its drug development programmes and general corporate purposes.

Compugen has signed a definitive agreement with specific institutional investors to issue 5.3 million ordinary shares priced at $3.95 a share.

Simultaneously, the company plans to issue warrants priced at $4.74 each to buy 4.3 million ordinary shares. The warrants have a term of five years from the date of issuance.

The transaction will be closed in June and is subject to customary closing conditions.

Based in Israel, Compugen is a drug discovery and development company focused on the development of novel drugs for cancer.

The company plans to use the funds towards the clinical development of its drug candidates and general corporate purposes.

Biotec Pharmacon has raised Nkr23.04m through a private placement of 4.3 million new shares priced at Nkr5.25 a share.

New and existing Norway-based and international investors subscribed to the placement.

Carnegie was appointed as bookrunner, while Wikborg Rein acted as a legal counsel to the company for the offering.

Based in Norway, Biotec Pharmacon is a designer and developer of novel immune modulating compounds.

Image-activated cell sorting system developer Thinkcyte has raised $3.2m (¥350m) through a seed financing round.

The funding round included the participation of new investors, Japan Science & Technology Agency (JST) and Osaka University Venture Capital.

All companies involved in the transaction are based in Japan.

Thinkcyte plans to use the funds to expand its product range and strengthen its application development process.