Date: 2014-07-30
Type of information: IPO
Company: VBL Therapeutics (Israel)
Investors:
Amount:
Funding type: IPO
Planned used: VBL Therapeutics' clinical pipeline is based on two distinct, proprietary platform technologies--an oncology program and an anti-inflammatory program—that leverage the body\'s natural physiologic and genetic regulatory elements. The Company\'s lead oncology product candidate, VB-111, is a gene-based biologic that is initially being developed for recurrent glioblastoma (rGBM). VB-111 has received orphan drug designation in both the United States and Europe and was granted Fast Track designation by the FDA for prolongation of survival in patients with glioblastoma that has recurred following treatment with standard chemotherapy and radiation. VBL Therapeutics expects to begin the single needed Phase 3 pivotal trial for VB-111 in rGBM by the end of the first quarter of 2015 under a SPA whose design and planned analysis the FDA concurred with. VBL Therapeutics\' lead product candidate from its anti-inflammatory program, VB-201, is an oral small molecule currently being evaluated in Phase 2 clinical trials for psoriasis and for ulcerative colitis, with top-line results expected in the first quarter of 2015.
Others: * On July 30, 2014, VBL Therapeutics, a clinical-stage company committed to first-in-class treatments for cancer and immune-inflammatory diseases, announced the pricing of its initial public offering of 5,400,000 of its ordinary shares at a public offering price of $12.00 per share, before underwriting discounts and commissions. In addition, VBL Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 810,000ordinary shares at the same price to cover over-allotments, if any. The shares are scheduled to begin trading on the NASDAQ Global Market on July 31, 2014 under the ticker symbol \"VBLX.\" The offering is expected to close on August 5, 2014, subject to customary closing conditions. Deutsche Bank Securities and Wells Fargo Securities are acting as joint book-running managers for the offering. JMP Securities, Needham & Company and Oppenheimer & Co. are acting as co-managers. A registration statement relating to these securities has been filed with and was declared effective by the Securities and Exchange Commission on July 30, 2014. The offering is being made only by means of a prospectus, copies of which may be obtained when available, from Deutsche Bank Securities Inc.
Therapeutic area: Cancer - Oncology - Immunological diseases - Inflammatory diseases
