Deals this week: Modus Therapeutics Holding, Mercachem, Ally Bridge Group

23rd February 2017 (Last Updated February 23rd, 2017 18:30)

Swedish biopharmaceutical company Modus Therapeutics Holding has raised Skr32m ($3.6m) from its existing investors including KDev Investments, Ostersjostiftelsen and Praktikerinvest.

Swedish biopharmaceutical company Modus Therapeutics Holding has raised Skr32m ($3.6m) from its existing investors, including KDev Investments, Ostersjostiftelsen and Praktikerinvest.

The funds will be utilised for the further development of the company’s drug sevuparin, which targets sickle cell disease.

Mercachem, a custom organic chemical compounds manufacturer based in the Netherlands, and UbiQ Bio, a biotechnology company also based in the Netherlands, have formed a joint venture (JV) known as SumiQ Therapeutics.

The JV will develop a therapy for Myc-driven cancers.

With the aim of expanding its European life science portfolio, Hong Kong-based private equity firm Ally Bridge Group has announced an investment in Nabriva Therapeutics.

Nabriva is a Austrian-based, clinical-stage biopharmaceutical company.

"Canadian biotechnology company Arch Biopartners plans to raise up to C$0.4m ($0.31m) through a non-brokered private placement of one million common shares."

Canadian biotechnology company Arch Biopartners plans to raise up to C$0.4m ($0.31m) through a non-brokered private placement of one million common shares.

The shares will be priced at C$0.4 ($0.31) each and have a holding period of four months and one day from the closing date of the offering.

The proceeds will be used for the ongoing commercial development of the company’s drug candidate, AB569.

US-based biopharmaceutical company Global Blood Therapeutics has announced it intends to raise $75m in gross proceeds from a registered underwritten public offering of shares of its common stock, in order to primarily fund the clinical development of GBT440 for multiple indications.

Part of the funds will also be utilised for research and development (R&D), working capital and general corporate purposes.

Underwriters to the offering are also granted a 30-day option to buy up to an additional $11.25m-worth shares in order to cover over-allotment, if any.