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Edesa Biotech Announces $15.0 Million Private Placement Partnership

Feb 13, 2025•over 1 year ago

Contract Type

partnership

MarkhamBiotechnologyTherapeuticsPharmaceuticalBiopharma

Description

Edesa Biotech has announced a private placement partnership, raising approximately $15.0 million before expenses, with Velan Capital leading the placement along with new investors Nantahala Capital, Rubric Capital Management LP, Stonepine Capital Management, Broadfin Holdings LLC, and existing Edesa shareholders and insiders.

Company Information

Company

Edesa Biotech

Location

100 SPY COURT

Markham, Ontario, Canada

About

Edesa Biotech, Inc. (Nasdaq: EDSA) is a clinical-stage biopharmaceutical company developing innovative ways to treat inflammatory and immune-related diseases. Our most advanced drug candidate is EB05 (paridiprubart), a monoclonal antibody developed for acute and chronic disease indications that involve dysregulated innate immune responses. Edesa is currently evaluating EB05 in a Phase 3 study as a potential treatment for Acute Respiratory Distress Syndrome (ARDS), a life-threatening form of respiratory failure. In addition, Edesa is developing an sPLA2 inhibitor, EB01, as a topical treatment for chronic Allergic Contact Dermatitis (ACD), a common occupational skin condition. The company has also received regulatory approval to conduct a Phase 2 trial its EB06 monoclonal antibody as a treatment for vitiligo, a life-altering autoimmune disease that causes skin to lose its color in patches. We also are planning a future Phase 2 study of paridiprubart for systemic sclerosis (scleroderma), an autoimmune rheumatic disorder that causes fibrosis (scarring/hardening) of skin and internal organs.

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