Delcath Systems, Inc. (Nasdaq: DCTH), a NYC-based interventional oncology company focused on the treatment of primary and metastatic cancers of the liver, signed securities purchase agreements with certain healthcare-focused institutional investors that will provide up to $85m in gross proceeds through a private placement that includes initial upfront funding of $25m.
The financing is being led by Vivo Capital with participation from Logos Capital, BVF Partners LP, Stonepine Capital Management, LLC, Serrado Capital LLC and supported by existing investor, Rosalind Advisors.
This financing is expected to enable the company to have sufficient cash past its anticipated PDUFA date of August 14, 2023, and fund the commercialization of HEPZATO, if approved.
Led by CEO Gerard Michel, Delcath Systems is an interventional oncology company focused on the treatment of primary and metastatic liver cancers. Its investigational product, HEPZATO™ KIT (melphalan hydrochloride for injection/hepatic delivery system), is designed to administer high-dose chemotherapy to the liver, while controlling systemic exposure and associated side effects.
To date, over 1,000 treatments in Europe have been conducted, in both the commercial and clinical setting. The medical device is CE Marked in Europe since 2012 and sold under the trade name CHEMOSAT®.
FinSMEs
28/03/2023