Date: 2015-03-10
Type of information: Private placement
Company: AmpliPhi BioSciences (USA - VA)
Investors:
Amount: $13 million
Funding type: private placement
Planned used: AmpliPhi BioSciences will use the proceeds from the fundraising to advance its three programs in methicillin-resistant staphylococcus aureus (MRSA), Pseudomonas aeruginosa infections in Cystic Fibrosis and Clostridium difficile. For its most advanced phage program, AmpliPhage-002 in MRSA, AmpliPhi intends to file an IND and commence Phase I clinical trials by year-end 2015. In its P. aeruginosa program (AmpliPhage-001) the Company expects to complete inhalation toxicology studies by the end of 2015. The Company’s goal with respect to AmpliPhage-004 in C. difficile is to conclude pre-clinical efficacy studies during 2015.
Others: * On March 10, 2015, AmpliPhi BioSciences, a global leader in bacteriophage-based antibacterial therapies to treat drug resistant infections, announced that it has entered into definitive purchase agreements of common stock and warrants with a group of institutional accredited investors, including both existing and new investors, as well as with its strategic alliance partner Intrexon , to raise approximately $13,000,000 in a private placement financing. Pursuant to the purchase agreements, the Company will issue an aggregate of 78,787,880 shares of the Company\'s common stock at a price per share of $0.165, as well as the sale and issuance of warrants to purchase 0.25 shares of common stock for each share of common stock per warrant share. The warrants, which represent the right to purchase an aggregate of 19,696,971 shares of common stock, expire in March 2020 and will be exercisable at a price of $0.215 per share. The warrants will be exercisable beginning on the later of (i) the first anniversary of the date of issuance and (ii) the date AmpliPhi effects a reverse stock split or increases the number of authorized shares of common stock, in either case in an amount sufficient to permit the exercise in full of the warrants issued in this offering. If the reverse stock split or share increase occurs before the first anniversary, the warrants will be exercisable at that time. Estimated net proceeds from the placement will be approximately $12,155,000. The private placement is expected to close on or about March 16, 2015, subject to customary closing conditions. Roth Capital Partners and Griffin Securities, Inc. served as placement agents for the offering. The securities offered in this private placement transaction have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. Pursuant to the terms of a registration rights agreement entered into with the investors, the Company has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of common stock sold in the offering. Any offering of the Company\'s securities under the resale registration statement referred to above will be made only by means of a prospectus.
Therapeutic area: Infectious diseases
