On October 22, 2020 India’s Gland Pharma, a majority-owned subsidiary of Shanghai Fosun Pharma, reported was approved for an $814 million IPO on India’s Sebi exchange (Press release, GLAND PHARMA LTD, OCT 22, 2020, View Source [SID1234568957]). The Hyderabad-based drug company makes generic injectible drugs for international markets. In 2017, Fosun paid $1.1 billion for a 74% stake in Gland. About $170 million of the IPO will be company shares, while $644 million will go to existing shareholders, a combination of Fosun and long-term investors including the founding family.

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On October 22, 2020 Foghorn Therapeutics Inc. (Nasdaq: FHTX), a company pioneering the discovery and development of a new class of medicines targeting genetically determined dependencies within the chromatin regulatory system, reported the pricing of its initial public offering of 7,500,000 shares of its common stock at a public offering price of $16.00 per share (Press release, Foghorn Therapeutics, OCT 22, 2020, View Source [SID1234568924]). All of the shares are being offered by Foghorn. In addition, Foghorn has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. Foghorn’s common stock is expected to begin trading on The Nasdaq Global Market on October 23, 2020 under the symbol "FHTX."

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The gross proceeds of the offering, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Foghorn, are expected to be approximately $120 million excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on October 27, 2020, subject to the satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC, Morgan Stanley and Cowen are acting as joint book-running managers for the offering, and Wedbush PacGrow is acting as co-manager.

A registration statement relating to the shares being sold in this offering was declared effective by the Securities and Exchange Commission on October 22, 2020. The offering is being made only by means of a prospectus, copies of which may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (833) 297-2926, or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

On October 22, 2020 Sirnaomics Inc., a leading biopharmaceutical company in discovery and development of RNAi therapeutics, reported that it has sealed its USD$105 million Series D financing (Press release, Sirnaomics, OCT 22, 2020, View Source [SID1234568921]). This round of funding was co-led by existing investor Rotating Boulder Fund, new investor Walvax Biotechnology Co., Ltd. and Sunshine Riverhead Capital, with support from existing investors Sangel Capital and new investors: Longmen Capital, HongTao Capital and Alpha Win Capital. Chinese Renaissance and Huatai Financial Holdings (Hong Kong) Ltd. served as the financial advisors for this round of fundraising.

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Proceeds for the financing will be used to fund continued development of its novel RNAi therapeutics for treatment of diverse human disorders, including cancers, fibrosis diseases, metabolic diseases and viral infections. Sirnaomics will build on the positive results from its recent Phase IIa study for treatment of Cutaneous Squamous Cell Carcinoma in-situ (April 9, 2020 news release), and conduct multiple clinical studies to further evaluate its lead product candidates, STP705 and STP707, which are dual targeting siRNA therapeutics against TGF-β1 and COX-2 for both local and systemic administrations to treat various types of cancers and fibrotic diseases. A clinical focus will be immune oncological evaluation for these dual-targeted siRNA inhibitors, based on potential synergistic effects with immune checkpoint inhibitors observed at both preclinical and clinical settings. With further expansion of the company’s innovative drug delivery platforms, such as siRNA-chemodrug conjugates (August 27, 2020 news release) and PDoV-GalNAc and advanced nebulizers, Sirnaomics is poised to address multiple therapeutic areas.

On October 22, 2020 Brickell Biotech, Inc. ("Brickell") (Nasdaq: BBI), a clinical-stage pharmaceutical company focused on developing innovative and differentiated prescription therapeutics for the treatment of debilitating skin diseases, reported the pricing of an underwritten public offering of 20,833,322 shares of common stock or common stock equivalents (which includes pre-funded warrants to purchase shares of common stock in lieu of shares of common stock) and investor warrants to purchase up to an aggregate of 20,833,322 shares of common stock (Press release, Vical, OCT 22, 2020, View Source [SID1234568918]). Each share of common stock (or pre-funded warrant in lieu thereof) is being sold together with one, immediately exercisable investor warrant with a five year term to purchase one share of common stock at an exercise price of $0.72 per share. The shares and warrants are being sold at a combined offering price of $0.72, for total gross proceeds of approximately $15.0 million, before underwriting discounts and commissions and offering expenses payable by Brickell. The offering is expected to close on or about October 27, 2020, subject to the satisfaction or waiver of customary closing conditions.

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Brickell anticipates using the net proceeds from the offering for research and development, including clinical trials, working capital and general corporate purposes.

Oppenheimer & Co. Inc. is acting as the sole book-running manager in connection with the offering and Lake Street Capital Markets, LLC is acting as lead manager.

The securities will be offered pursuant to a registration statement on Form S-1, as amended (File No. 333-249441), which was declared effective by the Securities and Exchange Commission (the "SEC") on October 22, 2020. The offering is being made solely by means of a prospectus. A preliminary prospectus relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus and, when available, copies of the final prospectus relating to this offering can be obtained at the SEC’s website at www.sec.gov or from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad St., 26th Floor, New York, NY 10004, by telephone at (212) 667-8055 or by email at [email protected].
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

On October 22, 2020 Cytocom, Inc. (Cytocom), a leading biopharmaceutical company in the area of immune-modulation, and Cleveland BioLabs, Inc., an innovative biopharmaceutical company developing novel approaches to activate the immune system, reported that they have entered into a definitive merger agreement to combine their businesses in an all-stock transaction (Press release, TNI BioTech, OCT 22, 2020, View Source [SID1234568901]). Cytocom shareholders will have a majority position in the newly combined entity, which the parties anticipate will continue to be listed on the Nasdaq, and the initial Board of Directors for the combined company will consist of four members selected by Cytocom and three members selected by Cleveland BioLabs. The Boards of Directors of both companies have approved the combination.

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For Immune Therapeutics, Inc. (Ticker: IMUN) and it’s shareholders who hold a considerable stake in Cytocom this means that the value for all of the years of support and collaboration with Cytocom can be realized. The Cytocom platform technologies and product pipeline, in combination with Cleveland BioLabs, have the potential to drive significant future growth in Immune’s shareholder value.

Each party to the proposed merger believes that the combined company will create near-term commercial opportunities in numerous areas of significant unmet medical needs including acute radiation injury, oncology, infectious disease, inflammation and autoimmune-mediated conditions, with multiple commercial, regulatory and clinical milestones expected over the next 12 to 18 months. Operating as "Cytocom, Inc." and under the leadership of Cytocom’s experienced management team, the combined company will be positioned for consistent growth.

Overview

Michael K. Handley, President and Chief Executive Officer of Cytocom, stated, "Our merger with Cleveland BioLabs and its subsequent immune-focused platform will be a transformative growth opportunity for Cytocom and Cleveland BioLabs shareholders. We believe that the combination of these highly complementary late-stage pipelines will strengthen our position and advance our efforts to unlock the potential of immune-modulating agents in the treatment of serious medical conditions. Further, this merger will enhance our ability to become a recognized leader in immune-modulating treatments and builds on the momentum created by our recent acquisition of ImQuest Life Sciences. We plan to utilize the combined platform to further drive value with additional clinical and commercial products and continue to seek strategic partnerships and acquisitions."

Dr. Andrei Gudkov, Chief Scientific Officer of Cleveland BioLabs, said: "This is an exciting day for Cleveland BioLabs and a great opportunity for our stockholders. The merger with Cytocom will allow us to add the strength of our science and bright perspectives associated with Entolimod development in cancer treatment and radiation defense arenas with a string of immunomodulators developed by Cytocom to form a powerful blend of conceptually and scientifically aligned products. We believe that the merger with Cytocom is the ideal way to unlock the value of our technology platform and our lead drug candidate, Entolimod, and I look forward to seeing this exciting new therapy advance through the clinic."

Conditions

The proposed transaction is subject to customary closing conditions, including approval by the stockholders of Cleveland Biolabs, the shares of the combined company being approved for listing on Nasdaq and a registration statement under the Securities Act becoming effective. Cytocom and Cleveland Biolabs expect the transaction to close during the first quarter of 2021.

Conference Call

Cytocom will host a conference call and live audio webcast at 8:00 a.m. EDT on October 28th to discuss the merger and provide a strategic vision for the combined company. To access the conference call supported with slides, please dial 646-558-8656 with the meeting ID: 841 7826 2704 and passcode: 281020. The conference call can also be accessed at https://cleartrustonline.com/cytocom. Approximately two hours following the live event, a webcast replay of the conference call will be available on Cytocom’s website https://www.cytocom.com/investors/ for approximately 30 days.