Sept. 5 Financial Quick Takes: Zealand raises cash as it readies NDA; plus Bellus, Aerie, LNC, Veralox and Sigrid

Ahead of NDA submission, Zealand raising cash
Zealand Pharma A/S (CSE:ZEAL; NASDAQ:ZEAL) is raising DKK559.6 million ($82.4 million) via a private placement and directed share issue to existing investor Van Herk Investments. Zealand will sell nearly 4 million shares at DKK140.79; the shares will trade in Copenhagen beginning Sept. 11. Morgan Stanley is the placement agent. The deal comes as Zealand prepares to submit an NDA to FDA early next year for dasiglucagon to treat severe hypoglycemia; the company is building U.S. operations for commercialization.

Bellus prices $70M offering, begins trading on NASDAQ
Bellus Health Inc. (TSX:BLU; NASDAQ:BLU) shares closed at $7.11 on NASDAQ in their first day of trading Thursday after the company raised $70 million through the sale of 9.9 million shares at $7.10 in an offering. Underwriters of the offering, upsized from $60 million, are Jefferies, Cowen, Guggenheim, Baird and Bloom Burton. The company's BLU-5937, a small molecule P2X3 antagonist, is in Phase II testing for chronic cough. In Toronto, Bellus gained C$.05 on Thursday, closing at C$9.45.

Aerie raises $275M in note deal
Opthalmic drug company Aerie Pharmaceuticals Inc. (NASDAQ:AERI) priced $275 million worth of 1.5% convertible senior notes due 2024.

LNC lines coffers with €6.2M
LNC Therapeutics (Bordeaux, France) raised €4.9 million ($5.4 million) in equity funding from existing investor Seventure Partners, plus a new family office. The microbiome company also received a total of €1.3 million in grants from the Nouvelle-Aquitaine region and Bpifrance. LNC hopes to begin clinical testing next year of LNC01, its live biotherapeutic based on a Christensenella strain, to treat obesity and metabolic disorders. Seventure has begun investing from its second microbiome-focused fund (see "First Close For Seventure's New Fund").

Veralox raises seed round
Veralox Therapeutics Inc. (Frederick, Md.) raised $5.4 million in a seed round led by JDRF T1D Fund, Sanofi (Euronext:SAN; NASDAQ:SNY), and the VTC Innovation and VTC Seed Fund. Also participating were the Maryland Momentum Fund, the University of Vermont Health Network and TEDCO. The company is conducting preclinical work on VLX-1005, an inhibitor of ALOX12, to treat heparin-induced thrombocytopenia (HIT) and HIT with thrombosis (HITT); it has second-generation candidates for Type I diabetes and other immune and inflammatory disorders.

Swedish diabetes play Sigrid raises $1.6M
Sigrid Therapeutics AB (Stockholm, Sweden) raised $1.6 million in a financing led by Joyance Partners and individual investor Pär Gellerfors, a member of the company’s board. The company, which has now raised a total of $9 million, is developing SiPore15, an orally administered device of micron-sized silica particles to act locally in the gut. SiPore15 is designed to reduce blood sugar in people newly diagnosed with and at risk for Type II diabetes.

Targets: ALOX12 (12-LOX) - Arachidonate 12-lipoxygenase; P2X3 - Purinergic receptor P2X ligand-gated ion channel 3

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