Capital Point News
4 articles
Capital Point to profit from NeuroDerm Nasdaq offering
NeuroDerms holding company, Capital Point, sold shares in NeuroDerm ahead of its secondary offering on Nasdaq. Capital Point will continue to own 9.5% of NeuroDerm, whose market cap is $252 million. Capital Points proceeds from the sales total $7.4 million. NeuroDerm has submitted a prospectus for raising $50 million more on Nasdaq. In its announcement, Capital Point stated that it still believed in NeuroDerm and its management, but decided to sell the shares in order to boost its liquidity.
Public Trading
Canadian distribution agreement boosts Can-Fite
Can-Fite BioPharma has signed a distribution agreement with Cipher Pharmaceuticals to distribute its CF101 psoriasis and rheumatoid arthritis treatment in the Canadian market. Cipher will make an upfront payment of CDN$1,650,000 to Can-Fite, with additional milestone payments and royalty payments based on net sales. Can-Fites share price has increased by 6.92% in response to the news. The distribution agreement is seen as a validation of Can-Fites development efforts. Can-Fite recently completed a Phase II/III trial on CF101, with top-line results to be published at the end of March 2015. The psoriasis treatment market is forecasted to grow to $6.7 billion by 2018.
Partners
NeuroDerm seeks $50m in secondary flotation
NeuroDerm, a company that develops technology for administering drugs for Parkinsons Disease, has submitted a prospectus for raising $50 million on Nasdaq. Since its IPO in November 2014, the companys share price has increased by 56% and its current market cap is $264 million. NeuroDerms progress in clinical trials has contributed to the growth of its share price. The company is developing a system for subcutaneous delivery of drugs for Parkinsons Disease, aiming to provide a more effective and consistent treatment. Clinical trials are underway, and the company expects approval of its product in 2018.
InvestmentPublic Trading
Check-Cap raises $24m, including Nasdaq IPO
Check-Cap, a diagnostic capsule company, raised $12 million in an IPO on Nasdaq and $12 million in a private placement led by Fosun Pharma. The IPO was priced at $12 million with a company value of $92 million, lower than the expected $15 million with a company value of $100 million. The IPO included options, with one series designed to incentivize long-term shareholders. Check-Caps influential shareholders include GE Healthcare and Fosun Pharma. The funds raised will be used to complete the companys clinical trial and potentially register its product for marketing in Europe in 2015. More capital will be raised for a US clinical trial, with the goal of launching the product in the US in 2017.
InvestmentPublic Trading
