Clene, a late clinical-stage biopharmaceutical company, announced a registered direct offering of over $28 million.
The offering is oversubscribed and priced above market to new, existing, and insider investors, including Boxer Capital Management, Coastlands Capital, and Vivo Capital.
The financing includes multiple tranches totaling over $28 million contingent on NDA acceptances and approvals, providing funding into early 2027.
Investor Syndicate
The financing includes investors Boxer Capital LLC, Coastlands Capital LLC, and Vivo Capital, validating the potential of CNM-Au8 for ALS treatment.
Funding Tranches
The offering comprises an initial tranche of over $6 million, with two additional tranches totaling over $22 million depending on NDA milestones.
Future Capitalization
The completion of the financing expected into early 2027 may enable the commercialization of CNM-Au8 in ALS.
- The financing is crucial for Clene's ongoing research and development in neurodegenerative diseases like ALS and MS.
- The funds will support Clene's efforts towards the NDA acceptance decision by the FDA and potential commercialization of their treatment.
Clene's successful registered direct offering positions the company well for advancing research in neurodegenerative diseases, particularly in ALS treatment.