VERAXA Biotech Secures $27.5 Million Financing and $50 Million Equity Line Ahead of Nasdaq Listing

VERAXA Biotech AG, a portfolio company of Xlife Sciences AG (SIX: XLS), has announced it secured $27.5 million in senior secured convertible note financing from High Trail Capital LP and entered into a share purchase agreement with Lincoln Park Capital Fund LLC providing access to up to $50 million in equity financing. The financings are intended to strengthen VERAXA’s financial position ahead of its planned business combination with Voyager Acquisition Corp. and anticipated listing on the Nasdaq Capital Market.

The High Trail Capital financing consists of a 15-month senior secured convertible note and warrants exercisable over four years at an initial exercise price of $11.50 per share. The equity line with Lincoln Park Capital provides VERAXA with discretionary access to capital over a 24-month period without warrants or participation rights. The company stated that the combined financing structure supports continued development of its antibody-based therapeutic pipeline, including proprietary BiTAC formats and antibody-drug conjugates.

This financing comes as VERAXA prepares to go public, a move that could provide additional capital and visibility for its drug development programs. The company’s pipeline is based on scientific discoveries made at the European Molecular Biology Laboratory (EMBL), a world-leading institute for life science research. VERAXA focuses on antibody-drug conjugates and novel BiTAC antibody formats, aiming to accelerate these candidates into and through clinical development.

The significance of this announcement lies in the substantial capital injection that will allow VERAXA to advance its pipeline without immediate dilution from equity sales, as the Lincoln Park facility provides flexible access to funds. The involvement of High Trail Capital and Lincoln Park Capital, both specialized investment firms, signals confidence in VERAXA’s technology and its potential to address unmet medical needs.

For more information about VERAXA Biotech, visit https://www.veraxa.com/. To view the full press release, see https://ibn.fm/oxUOU.

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