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Nektar Therapeutics secures $30 million from TCGX in private financing.

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TLDR:

  • Nektar Therapeutics announced a $30 million private placement financing with TCGX, an institutional investor.
  • The financing will support the advancement of rezpegaldesleukin through Phase 2b studies in atopic dermatitis and alopecia areata.

Nektar Therapeutics, a biotechnology company, has secured a $30 million private placement financing deal with TCGX, an institutional accredited investor. The financing, which involves the sale of 25 million shares of common stock at $1.20 per share, is expected to close on or before March 6, 2024. The company plans to use the proceeds to advance rezpegaldesleukin, a novel agonistic T regulatory cell biologic, through Phase 2b studies in atopic dermatitis and alopecia areata. The topline data from these studies is expected to be reported in the first half of 2025, marking significant milestones for Nektar Therapeutics.

Rezpegaldesleukin is designed to dampen the inflammatory response and restore immune balance by expanding functional T reg cells and engaging multiple immunoregulatory pathways. The private placement financing is exempt from registration requirements under the Securities Act and will strengthen Nektar’s financial position, extending its cash runway into the third quarter of 2026. Nektar Therapeutics, headquartered in San Francisco, California, is focused on developing medicines for the treatment of auto-immune disorders and has a portfolio of investigational medicines in immunology and oncology.

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