Molecular Templates announces $9.5M private placement

Molecular Templates announced it has entered into a definitive amended and restated securities purchase agreement with certain healthcare investors that will provide $9.5 million in gross proceeds to MTEM through the closing of the second tranche of its previously announced July 2023 private placement and purchase agreement on amended terms. The financing is being led by existing investor BVF Partners L.P. and includes existing investors BB Biotech AG and Sante, and other leading institutional investors. Stifel is acting as the sole placement agent in connection with the financing. MTEM intends to use the net proceeds from the proceeds of the second tranche to fund its ongoing clinical studies, working capital and for general corporate purposes.