Eledon Pharmaceuticals Announces Up To $185 Million Financing To Advance Tegoprubart Kidney Transplantation Clinical Trials
Amount Raised
$185 Million
Round Type
Funding Round
IrvineBiotechnologyHealthcareDescription
Eledon Pharmaceuticals, Inc. (“Eledon”) (NASDAQ: ELDN), a clinical stage transplant and immunology-focused biopharmaceutical company, today announced that it has entered into a definitive securities purchase agreement with certain healthcare investors that will provide up to $185 million in gross proceeds to Eledon through a private placement. The purchase is comprised of an initial upfront financing of $35 million in exchange for 15.2 million common shares (or pre-funded warrants), representing a purchase price of $2.31 for each share of common stock and associated warrant sold at the initial closing, and up to an additional $105 million in mandatory tranche financing, subject to achieving specified milestones, including clinical development milestones. In addition, Eledon will have the potential to receive $45 million upon the full exercise of warrants being issued in connection with the agreement.
Quick answer
Eledon raised $185 Million in a Funding Round round, dated May 1, 2023. Eledon is based in Irvine, California, United States.
- How much did Eledon raise?
- Eledon raised $185 Million in a Funding Round round on May 1, 2023.
- What does Eledon do?
- Eledon Pharmaceuticals is a clinical stage biotechnology company with immunology expertise that is developing therapies to protect and prevent rejection of transplanted organs, as well as to treat amyotrophic lateral..
- Where is Eledon based and how big is it?
- Eledon is based in Irvine, California, United States.
- Who are the decision-makers at Eledon?
- Fundz holds 2 contacts at Eledon. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Healthcare and Biotechnology around the same time
Companies in the same sectors as Eledon that raised within 45 days of this round, from Fundz verified event records.
- Beyond Air raised $40M (Debt Financing) on June 15, 2023.
- Beyond Air raised $1.4M (Seed) on June 15, 2023.
- Vaporox, Inc. raised $4.9M (Seed) on June 12, 2023.
- Avenda Health, Inc. raised $3.5M (Series B) on June 8, 2023.
- ChromaCode raised an undisclosed amount (Corporate Round) on June 7, 2023.
- Phio Pharmaceuticals raised $3M (Seed) on June 2, 2023.
Who to call at Eledon, and when
A new round usually means Eledon is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Eledon raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Eledon, from your own LinkedIn network
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Related People
Eledon raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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