Tharimmune: $2.02 Million Private Placement for Development Programs
Tharimmune, a clinical-stage biotechnology company focused on developing therapies in immunology and inflammation, has announced a private placement deal to raise around $2.02 million. This agreement involves issuing 961,446 shares of common stock at a price of $2.10 per share, along with warrants to purchase up to 480,723 additional shares. The closing of this transaction is anticipated on or around December 9, 2024.
The financing for this placement was led by Gravitas Capital and SDS Capital Group, with support from other biotechnology-focused private investors. President Street Global acted as the exclusive placement agent to ensure a smooth execution of the transaction. After covering related expenses, Tharimmune plans to allocate the net proceeds toward clinical development, including the advancement of its primary TH104 development program, as well as for general working capital.
TH104, the company’s lead clinical asset, is aimed at addressing chronic pruritus associated with primary biliary cholangitis, a challenging autoimmune liver disease. Tharimmune’s dedication to progressing its therapeutic candidates is underscored by this financing, signaling its commitment to innovation in biotechnology.
The securities offered in this private placement fall under Section 4(a)(2) of the Securities Act of 1933, with shares of common stock and underlying warrants not registered under the Securities Act or state securities laws. Tharimmune has agreed to file a resale registration statement to enable future trading upon registration or qualification under applicable laws.
Tharimmune, Inc. is dedicated to developing therapies in immunology, inflammation, and oncology. Its lead product candidate, TH104, utilizes transdermal buccal film technology to address inflammatory conditions such as pruritus associated with PBC. The company is actively researching and exploring innovative biologics for treating solid tumors.
While this press release contains forward-looking statements, it’s important to note that actual results may differ from what’s expressed here. Tharimmune advises against placing undue reliance on these forward-looking statements and is committed to regularly updating or revising statements as needed based on new information or unforeseen events. For any inquiries, you can reach out to Tharimmune, Inc. via email at ir@tharimmune.com or contact Alliance Advisors IR at tpatel@allianceadvisors.com or 212-201-6614.
