Rockcliffe Labs Launches $75M Offering for Sepsis Drug, Targeting Phase 3 Trials in 2024
Rockcliffe Labs Inc., a Canadian biotechnology venture creation platform, is launching a $75 million non-brokered private placement in Canada. The offering, conducted exclusively in Canada, reflects a post-money valuation of approximately $300 million and is structured as development financing for Rockcliffe Labs' license term sheet with a Canadian university.
The lead program licensed from the university is a late-stage biomarker-based candidate for sepsis. Rockcliffe Labs plans to advance this toward Phase 3 clinical trials in Canada within twelve months of the definitive license agreement. The license provides exclusive rights in North America, with options to expand into additional regions including Europe, Asia (excluding China), South America, Australia/New Zealand, the Middle East, and Africa. Proceeds from the offering will be allocated to advancing the sepsis biomarker-based program, expanding regulatory engagement, building infrastructure, and growing Rockcliffe Labs' venture creation platform.
The offering is being conducted at $10.00 per common share. As part of the license, the Canadian university will hold a 7.5% equity interest in Rockcliffe Labs, equal to approximately 2.25 million shares valued at $22.5 million at the offering price. This news release contains forward-looking information regarding the offering, development timeline, regulatory pathways, commercialization opportunities, and Rockcliffe Labs' platform strategy.
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