Curis closes $80.8 million private placement led by Nantahala Capital

Curis Inc. (NASDAQ: CRIS) announced the closing of a private placement financing that raised up to $80.8 million in gross proceeds, with initial proceeds of approximately $20.2 million before fees and expenses.

The financing was led by Nantahala Capital, Stonepine Capital Management, Pointillist Partners LLC and The Red Hook Fund LP. Other new and existing institutional investors participated, along with members of the company's management team and board of directors.

Laidlaw & Company (UK) Ltd. served as sole placement agent for the transaction.

Curis is a biotechnology company developing emavusertib, an oral IRAK4 and FLT3 inhibitor. The drug is currently being evaluated in a Phase 1/2 study in combination with ibrutinib for patients with relapsed/refractory primary central nervous system lymphoma and in a Phase 2 study combined with a BTK inhibitor for chronic lymphocytic leukemia.

The company has completed monotherapy and combination studies in acute myeloid leukemia and plans to continue development in that indication. Emavusertib has received Orphan Drug Designation from the U.S. Food and Drug Administration for treating primary central nervous system lymphoma, acute myeloid leukemia and myelodysplastic syndromes, and from the European Commission for primary central nervous system lymphoma treatment.

Curis holds an exclusive license to emavusertib through a 2015 collaboration with Aurigene Discovery Technologies Limited.

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