Deals this week: Akcea Therapeutics, Atara Biotherapeutics, Numab Therapeutics

30th March 2017 (Last Updated March 30th, 2017 18:30)

Akcea Therapeutics plans to raise up to $100m through an initial public offering of its common stock shares.

Akcea Therapeutics plans to raise up to $100m through an initial public offering of its common stock shares.

The company has filed an identical registration statement with the US Securities and Exchange Commission (SEC).

Akcea has concurrently agreed to raise $50m through a private placement of shares of its common stock to Novartis AG.

The proceeds will be used for multiple purposes, including, but not limited to, development and commercialisation of its drugs in pipeline, development personnel expenses, working capital and general corporate purposes.

US-based pharmaceutical company Atara Biotherapeutics intends to raise $75m in gross proceeds by issuing shares of its common stock.

"US-based pharmaceutical company Atara Biotherapeutics intends to raise $75m in gross proceeds by issuing shares of its common stock."

The proceeds are intended to be used for working capital and general corporate purposes.

Swiss-based pharmaceutical company Numab Therapeutics and Japanese-based Ono Pharmaceutical have signed a research and option agreement to discover and develop a multi-specific antibody candidate in the immuno-oncology treatment.

Ono will provide Numab the required research funding, while Numab will use Ono’s novel therapeutic approach for the antibody discovery and development.

Ono will also have an option to acquire intellectual property rights and exclusive development and commercialisation rights to the lead compound to be developed through the collaboration. It will pay Numab up to CHF258m ($260.16m) for the same.