Caliway Biopharmaceuticals, a Taipei, Taiwan-based clinical-stage biopharmaceutical company listed on the stock market in Taiwan (TPEX6919), closed an oversubscribed capital raise, securing over $100M by issuing 8 million new shares.
The company intends to use the funds to advance the clinical development of its lead pipeline CBL-514, a small-molecule injectable drug that reduces subcutaneous fat in treatment areas. The use of proceeds includes multi-country, multi-center Pivotal Phase 3 studies for non-surgical subcutaneous fat reduction, and a CBL-514’s Phase 2b study (CBL-0202DD) for treating Dercum’s disease compared with placebo.
Led by Vivian Ling, CEO, Caliway Biopharmaceuticals is a clinical-stage biopharmaceutical company driven to breakthrough drug discovery of novel small-molecule therapeutics.
The application of the CBL-514 Pivotal Phase 3 study (CBL-0301) for subcutaneous fat reduction has been submitted to Australian Bellberry HREC. Caliway will submit the Pivotal Phase 3 study IND to the U.S. FDA, EMA, and other countries’ regulatory authorities following up.
In addition, the IND application of CBL-514 Phase 2b study for Dercum’s disease was submitted to the U.S. FDA in December, 2023. The study will evaluate CBL-514’s efficacy, safety, and tolerance in treating Dercum’s disease compared with placebo.
FinSMEs
16/12/2023