Estrella Immunopharma, Inc. has closed a registered direct offering, raising approximately $8.0 million in gross proceeds. The offering involved a single healthcare-focused institutional investor and included the issuance of 4,063,290 shares of common stock and 1,000,000 pre-funded warrants. A concurrent private placement of common warrants to purchase up to 7,594,935 additional shares was also completed, with Aegis Capital Corp. serving as the exclusive placement agent.
The company expects to use the net proceeds for general corporate purposes and working capital as it advances its CD19 and CD22-targeted ARTEMIS T-cell therapy programs. This includes funding for lead candidate EB103, which utilizes Eureka's ARTEMIS technology to target CD19, a protein expressed on the surface of almost all B-cell leukemias and lymphomas. Estrella is also developing EB104, which targets both CD19 and CD22, another protein commonly found on B-cell malignancies.
This capital infusion represents a significant step for Estrella, a clinical-stage biopharmaceutical company focused on harnessing the human immune system to treat cancers and autoimmune diseases. The funding enables continued research and development of innovative T-cell therapies that could address unmet medical needs in oncology. For investors and industry observers, the successful offering demonstrates institutional confidence in Estrella's scientific approach and therapeutic pipeline.
The broader implications of this announcement extend to patients awaiting new treatment options for B-cell malignancies and autoimmune conditions. As Estrella progresses its clinical programs, this funding supports the potential advancement of therapies that could offer improved outcomes compared to existing treatments. The company's work contributes to the growing field of immunotherapy, which has revolutionized cancer treatment in recent years.
For more information about Estrella Immunopharma's research and development programs, visit https://www.estrellabio.com/. Additional details about the offering can be found at https://ibn.fm/rh6n9. The biomedical sector continues to see substantial investment in innovative therapies, with companies like Estrella working to translate scientific discoveries into clinical solutions for serious diseases.
