The Israeli drug development company's lead product is a targeted anti-cancer gene-therapy agent to treat a wide range of solid tumors.
Israeli cancer treatment developer VBL Therapeutics (Nasdaq: VBLT) (Vascular Biogenics Ltd.) has priced 2.5 million shares and raised $18.75 million on Nasdaq. The offering is expected to close on November 21 2017.
VBL Therapeutics plans using the use the funds for the advancement of clinical programs, product development, and for working capital and other general corporate purposes. Piper Jaffray & Co. is acting as the sole manager in this offering.
VBL Therapeutics lead oncology product candidate, ofranergene obadenovec (VB-111), is a targeted anti-cancer gene-therapy agent that is positioned to treat a wide range of solid tumors. It is conveniently administered as an IV infusion once every two months. It has been observed to be well-tolerated in over 300 cancer patients and the company has observed its efficacy signals in an “all comers” Phase 1 trial as well as in three tumor-specific Phase II studies. Ofranergene obadenovec is currently being studied in a Phase III pivotal trial for recurrent Glioblastoma, conducted under an FDA Special Protocol Assessment (SPA).
Published by Globes [online], Israel business news - www.globes-online.com - on November 19, 2017
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