Edesa Biotech, Inc. announced on February 13, 2025, the closing of a private placement that generated approximately $15.0 million in gross proceeds. The company sold 834 newly designated Series B-1 convertible preferred shares and 3,468,746 common shares, with a purchase price of $10,000 per preferred share and $1.92 per common share.
The financing round was led by Velan Capital and included new institutional investors such as Nantahala Capital, Rubric Capital Management LP, Stonepine Capital Management, and Broadfin Holdings LLC, alongside existing Edesa shareholders and insiders. Officers and directors of the company collectively purchased approximately $1.1 million of the securities offered.
The net proceeds from this offering are designated to fund the continued advancement of EB06, Edesa's anti-CXCL10 monoclonal antibody, into a Phase 2 clinical study for nonsegmental vitiligo, as well as for general working capital and corporate purposes. In connection with the offering, David Liu, a Senior Analyst at Velan Capital, was appointed to Edesa’s Board of Directors, effective immediately upon closing on February 12, 2025.
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