Tyra Biosciences, Inc. announced that it expects to receive $200.006021 million in funding from RA Capital Management, L.P., Boxer Capital LLC, BVF Partners L.P., Nextech Invest Ltd., OrbiMed Advisors LLC, 5AM Venture Management, LLC
February 31, 2024
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Tyra Biosciences, Inc. announced that it has entered into a securities purchase agreement with institutional and accredited investors to sell securities 9,286,023 shares (the Shares) of the Company?s common stock, par value $0.0001 per share, at a price of $13.01 per Share for a gross proceeds $120,811,159.23, and with respect to certain Purchasers, pre-funded warrants to purchase an aggregate of 6,087,230 shares of Common Stock (the Pre-Funded Warrants) in lieu of shares of Common Stock, at a purchase price of $13.009 per Pre-Funded Warrant for gross proceeds of $ 79,194,862, to the aggregate gross proceeds of $200,006,021.23 on February 1, 2024. The transaction will include participation from new investors such as OrbiMed Advisors LLC, 5AM Venture Management, LLC and returning investors such as RA Capital Management, L.P., Boxer Capital LLC, BVF Partners L.P. and Nextech Invest Ltd. The transaction is expected to close on February 6, 2024, subject to customary closing conditions. The securities described above have not been registered under the Securities Act of 1933, as amended.
Tyra Biosciences, Inc. is a clinical-stage biotechnology company. It is focused on developing precision medicines that target large opportunities in Fibroblast Growth Factor Receptor (FGFR) biology. Its in-house precision medicine platform, SNAP, enables rapid and precise drug design through iterative molecular SNAPshots that help predict genetic alterations to cause acquired resistance to existing therapies. Its initial focus is on applying its accelerated small molecule drug discovery engine to develop therapies in targeted oncology and genetically defined conditions. Its lead product candidate, TYRA-300, is an investigational, oral, FGFR3-selective inhibitor being evaluated in an international, multi-center, open label Phase 1 clinical study, SURF301. Its second oncology product candidate, TYRA-200, is an investigational, oral, FGFR1/2/3 inhibitor with potency against activating FGFR2 gene alterations, and clinically important molecular brake and gatekeeper resistance mutations.
Tyra Biosciences, Inc. announced that it expects to receive $200.006021 million in funding from RA Capital Management, L.P., Boxer Capital LLC, BVF Partners L.P., Nextech Invest Ltd., OrbiMed Advisors LLC, 5AM Venture Management, LLC