DealsSep 8, 2026, 08:42 AM
PDS Biotechnology Secures Up to $22.55M Financing Led by Nant Capital
AI Summary
PDS Biotechnology Corporation announced a PIPE financing of up to $22.55 million, led by Nant Capital, with participation from other investors. The financing includes an initial closing of approximately $11.55 million and a contingent milestone closing of $11 million upon FDA submission of a Phase 3 protocol for PDS0301. Dr. Patrick Soon-Shiong will join the company's Board of Directors. The proceeds will be used for working capital and advancing clinical programs. Additionally, NantWorks has secured a one-year exclusive negotiation period for a license to PDS0101.
Key Highlights
- PDS Biotechnology to raise up to $22.55 million in equity financing through a PIPE transaction.
- Initial closing to raise approximately $11.55 million through sale of common stock and warrants.
- Contingent milestone closing to raise $11 million upon FDA submission of Phase 3 protocol for PDS0301.
- Nant Capital, led by Dr. Patrick Soon-Shiong, is the lead investor in the financing.
- Dr. Patrick Soon-Shiong to join PDS Biotechnology's Board of Directors.
- Proceeds to be used for working capital, general corporate purposes, and continued development of clinical programs.
- NantWorks granted a one-year exclusive right to negotiate a license for PDS0101.
Price Impact
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