On February 12, 2025, Edesa Biotech, Inc. (“Edesa Biotech”), a Canadian clinical-stage biopharmaceutical company focused on inflammatory and immune-related diseases, completed a US$15 million private placement of Series B-1 convertible preferred shares and common shares, priced at-the-market under the rules of the Nasdaq Stock Market.
The placement was led by Velan Capital. Edesa Biotech plans to use the net proceeds from the offering to advance EB06, its CXCL10 monoclonal antibody, into a Phase 2 clinical study for nonsegmental vitiligo.
Fasken advised Edesa Biotech on the Canadian law aspects of the transaction with a team comprised of Wojtek Baraniak, Myroslav Chwaluk, and Barbara Clark.
Jurisdiction
- Ontario
