Aileron Therapeutics Announces Acquisition Of Lung Therapeutics; Financing Proceeds Of ~$18M From A Private Placement Anticipated To Fund Completion Of The Ongoing Phase 1b Clinical Study Of LTI-03 In IPF And For General Corporate Purposes
Portfolio Pulse from Benzinga Newsdesk
Aileron Therapeutics (NASDAQ: ALRN) has acquired Lung Therapeutics, a biopharmaceutical company focused on developing therapies for orphan pulmonary and fibrosis indications. The acquisition includes multiple clinical stage, orphan pulmonary disease candidates, including LTI-03, a Caveolin-1-related peptide in development for the treatment of idiopathic pulmonary fibrosis (IPF). Aileron also announced a private placement of approximately $18 million, led by Bios Partners and including Nantahala Capital, to fund the completion of the ongoing Phase 1b clinical study of LTI-03 in IPF and for general corporate purposes.
October 31, 2023 | 4:36 pm
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Aileron's acquisition of Lung Therapeutics and the private placement of $18 million could potentially boost the company's stock as it expands its portfolio and secures funding for the completion of the ongoing Phase 1b clinical study of LTI-03 in IPF.
The acquisition of Lung Therapeutics expands Aileron's portfolio with multiple clinical stage, orphan pulmonary disease candidates, which could potentially increase the company's market value. The private placement of $18 million provides the necessary funding for the completion of the ongoing Phase 1b clinical study of LTI-03 in IPF, which if successful, could further boost the company's stock.
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IMPORTANCE 80
RELEVANCE 100