ASLAN Pharmaceuticals announces $18m private placement

The financing closed on 25 February.

ASLAN Prescription drugs has entered right into a securities buy settlement to lift gross proceeds of $18m, ensuing from the sale of its bizarre shares by way of a non-public placement to new institutional traders, Vivo Capital and Surveyor Capital.

The clinical-stage immunology centered biopharmaceutical firm will challenge an combination of 25,568,180 bizarre shares, equal to five,113,636 American Depositary Shares (ADSs), at an equal value of $3.52 per ADS, equal to the final closing value of the corporate’s ADSs.

Based on ASLAN Prescription drugs CEO Dr. Carl Firth, the extra assets from the personal placement will fund their ongoing research of ASLAN004 in atopic dermatitis in early March and look in the direction of initiating the corporate’s part 2b program later in 2021.