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FAQ: Estrella Immunopharma's $8.0 Million Registered Direct Offering and Corporate Overview
TL;DR
Estrella Immunopharma secured $8 million in funding, providing capital to advance its cancer therapy programs and potentially gain a competitive edge in biopharmaceutical development.
Estrella Immunopharma raised $8 million through a direct offering of shares and warrants, with proceeds allocated to advance CD19 and CD22-targeted ARTEMIS T-cell therapy programs.
This funding supports Estrella's mission to develop T-cell therapies that could transform treatment for cancer and autoimmune diseases, improving patient lives worldwide.
Estrella Immunopharma's ARTEMIS technology targets CD19 and CD22 proteins on B-cell malignancies, representing an innovative approach to cancer therapy development.
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Estrella Immunopharma has closed a registered direct offering generating approximately $8.0 million in gross proceeds through the issuance of shares, pre-funded warrants, and common warrants to a single healthcare-focused institutional investor.
The company raised approximately $8.0 million through the issuance of 4,063,290 shares of common stock, 1,000,000 pre-funded warrants, and a concurrent private placement of common warrants to purchase up to 7,594,935 additional shares.
Net proceeds are expected to be used for general corporate purposes and working capital to advance the company's CD19 and CD22-targeted ARTEMIS T-cell therapy programs, including lead candidate EB103.
Aegis Capital Corp. acted as the exclusive placement agent for the offerings.
Estrella is a clinical-stage biopharmaceutical company developing CD19 and CD22-targeted ARTEMIS T-cell therapies to treat cancers and autoimmune diseases.
Lead candidate EB103 targets CD19, a protein expressed on almost all B-cell leukemias and lymphomas, while EB104 targets both CD19 and CD22, proteins expressed on most B-cell malignancies.
The company utilizes Eureka's ARTEMIS technology for its T-cell therapies targeting CD19 and CD22.
For more information, visit https://www.estrellabio.com/ or view the full press release at https://ibn.fm/rh6n9.
BioMedWire is a specialized communications platform focusing on biotechnology, biomedical sciences, and life sciences, providing wire solutions, editorial syndication, press release enhancement, social media distribution, and corporate communications solutions through the IBN network.
Curated from InvestorBrandNetwork (IBN)
