On November 4, 2022 Peak Bio, Inc. ("Peak Bio" or the "Company") (NASDAQ: PKBO), a clinical-stage biopharmaceutical company focused on developing the next-generation of therapeutics to treat oncology and inflammatory diseases, reported that it has entered into a Common Stock Purchase Agreement (the "Agreement") with White Lion Capital, LLC ("White Lion Capital") (Press release, Peak Bio, NOV 4, 2022, View Source [SID1234623142]). The Agreement governs a committed equity facility that provides the Company with the right, without the obligation, to sell White Lion Capital up to $100 million of its common stock over a 36-month period, subject to certain limitations and conditions. The Company intends to use the net proceeds from the transaction for working capital to support its clinical and preclinical programs.

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Stephen LaMond, PharmD, MBA, Peak Bio, Inc. COO, commented, "We are pleased to announce the closing of the Agreement with White Lion Capital as it demonstrates the strong vote of confidence we are receiving from investors. This equity line will help bolster our investments in our programs and allow for opportunistic portfolio expansion. "