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April 6, 2017

Deals this week: Opthea, AnGes MG, Sentien Biotechnologies

Australian-based biotechnology company Opthea intends to raise A$10m ($7.63m) in gross proceeds from the rights offering of shares entitling holders to purchase one share for every 14 existing shares in the company.

Australian-based biotechnology company Opthea intends to raise A$10m ($7.63m) in gross proceeds from the rights offering of shares entitling holders to purchase one share for every 14 existing shares in the company.

The offering will involve 10.7 million shares priced at A$0.93 ($0.71) a share.

The company has concurrently announced a private placement of shares to raise A$35m ($26.7m) in gross proceeds.

The proceeds are intended to be used for conducting clinical trials and funding research and development (R&D) expenses to support the development of some of its pipeline drugs.

US-based biotechnology company Vical Incorporated and AnGes MG have entered a research agreement.

The two companies will research for a development programme targeting chronic hepatitis B as part of the agreement.

"US-based biotechnology company Vical Incorporated and AnGes MG have entered a research agreement."

Japanese-based biotechnology company AnGes MG will provide funding for the programme in exchange for an option to negotiate exclusive rights to the programme in Japan, while Vical will conduct pre-clinical research related to the programme.

Sentien Biotechnologies has raised $12m in a series A financing round co-led by Boehringer Ingelheim Venture Fund USA (BIVF USA) and BioInnovation Capital.

The proceeds are intended to be used to fund the initial clinical development of its SBI-101 for the treatment of acute kidney injury (AKI).

Based in the US, Sentien Biotechnologies is focused on cellular therapies development.

French biotechnology company Biophytis has raised €15m ($16m) and €3.73m ($3.97m) respectively through a private placement of bonds and shares of its common stock.

The proceeds are intended to fund phase IIb SARA-OBS / SARA-INT clinical study on Sarconeos, the company’s leading product for the treatment of sarcopenia.

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