BioCentury
ARTICLE | Financial News

Lion raises $100M, names new CEO

June 4, 2016 12:18 AM UTC

Cancer immunotherapy company Lion Biotechnologies Inc. (NASDAQ:LBIO) raised $100 million in a private placement led by Quogue Capital, OrbiMed, Frazier Healthcare Partners and Broadfin Capital. The investor group is purchasing 11.4 million series B preferred shares and 9.7 million common shares, both at $4.75.

Lion also named Maria Fardis CEO, succeeding Elma Hawkins. Fardis was most recently COO at cancer and inflammation company Acerta Pharma B.V. (Oss, the Netherlands), in which AstraZeneca plc (LSE:AZN; NYSE:AZN) has taken a majority stake (see BioCentury Extra, Dec. 17, 2015). ...