Aprea Therapeutics and Pinnacle Medicines, two life sciences companies with connections to Doylestown, have raised a combined $119 million from investors, writes John George for the Philadelphia Business Journal.
Life sciences companies in the Philadelphia region have raised over $850 million through venture capital deals and follow-on stock offerings.
Aprea Therapeutics, which is headquartered in the Pennsylvania Biotechnology Center of Bucks County, recently closed a $30 million private stock placement.
Aprea issued warrants for up to 37.2 million shares at $0.808 each in a private placement led by Soleus Capital, with participation from new investors Vestal Point Capital and Squadron Capital Management, as well as existing investors and company insiders.
The proceeds will go toward Aprea’s research and development and general corporate purposes.
At the end of March, Pinnacle Medicines, which is based in Shanghai but has operations in Doylestown, closed $89 million in Series B financing.
Pinnacle’s Series B round was co-led by Foresite Capital and LAV. Investors Hankang Capital, Quan Capital, RA Capital Management, Logos Capital, and OrbiMed participated in the round.
With the funding, the company will be advancing its programs targeting cardiometabolic diseases and immunology.
Read more about the funds raised by Doylestown’s Aprea Therapeutics and Pinnacle Medicines in the Philadelphia Business Journal.
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