Delcath Systems announced that the company has signed securities purchase agreements with certain healthcare-focused institutional investors that will provide up to $85M in gross proceeds to Delcath through a private placement that includes initial upfront funding of $25M. The financing is being led by Vivo Capital with participation from Logos Capital, BVF Partners LP, Stonepine Capital Management, Serrado Capital and supported by existing investor, Rosalind Advisors. This financing is expected to enable the company to have sufficient cash past its anticipated PDUFA date of August 14, 2023, and fund the commercialization of Hepzato, if approved.
Published first on TheFly
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