VBL Therapeutics: Rises on $20 mln share purchase agreement

Notable Labs

15/01/2021 14:15

** U.S.-listed shares of Israel-based drug developer
 VBLT.O  rise 6.2% to $2.56 premarket
    ** Co enters into share purchase agreement with
healthcare-focused institutional investor, Aspire Capital Fund
(https://refini.tv/3qoQCqc)
    ** As per terms of agreement, Aspire will buy up to $20 mln
of VBLT's common stock over a 30-month period
    ** Proceeds from sales of ordinary shares will be used for
working capital and for general corporate purposes
    ** VBLT said capital secured through agreement will support
ongoing late-stage trial of VB-111 in ovarian cancer patients
and help in developing its antibody therapy for chronic
inflammation
    ** No warrants or other derivative securities associated
with transaction
    ** Up to Thursday's close, U.S.-listed stock up 27.5% YTD


 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))