GRI Bio Raises $13.9M In Gross Proceeds Since Start Of 2024; Funds Expected To Extend Cash Runway Into Mid-Q1 2025, Supporting Interim Data From Phase 2a Study Of GRI-0621 For Idiopathic Pulmonary Fibrosis (IPF) Treatment
Portfolio Pulse from Benzinga Newsdesk
GRI Bio has raised $13.9 million in gross proceeds since the start of 2024, which is expected to extend its cash runway into mid-Q1 2025. This funding will support interim data from a Phase 2a study of GRI-0621 for the treatment of Idiopathic Pulmonary Fibrosis (IPF). The amount includes $0.8 million from a recent warrant exercise.
October 24, 2024 | 12:33 pm
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GRI Bio has successfully raised $13.9 million, extending its financial runway into mid-Q1 2025. This funding will support the ongoing Phase 2a study of GRI-0621, a treatment for Idiopathic Pulmonary Fibrosis.
The successful fundraising of $13.9 million is a positive development for GRI Bio, as it ensures financial stability and supports the advancement of their Phase 2a study for GRI-0621. This could lead to potential breakthroughs in IPF treatment, positively impacting investor sentiment.
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