Pentixapharm Closes €20.4M Round After FDA Nod
Berlin-based biotech Pentixapharm just closed a capital increase that brought in about €20.4 million, and according to the company's press release, investors were clearly keen: both the rights offering and the follow-on private placement were fully subscribed.
The Frankfurt-listed company placed just over 11 million new shares at €1.85 each. More than 82% of that volume came from the rights offering alone, which ran from July 7 to July 21, before the remaining shares went to institutional investors in a private placement. Pentixapharm's major shareholder, Eckert Wagniskapital und Frühphasenfinanzierung GmbH, exercised its rights in full.
The timing lines up with two big regulatory wins in the US. The FDA gave the green light for Pentixapharm's pivotal Phase 3 PANDA study to proceed, and shortly after granted Fast Track designation to its lead compound, [⁶⁸Ga]Ga-PentixaFor, for diagnosing primary aldosteronism, a hormone disorder linked to high blood pressure.
CEO Dirk Pleimes said the fresh funding puts the company in a stronger position for its US expansion plans and for exploring partnership or licensing deals. He also credited the shareholder base built since Pentixapharm's spin-off from Eckert & Ziegler for backing the strategy so strongly.
The money will mainly go toward running the PANDA study, building out manufacturing and supply capacity, and pushing forward Pentixapharm's broader CXCR4-based platform, including its oncology program PentixaTher.
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