LOUISVILLE, Colo., Feb. 13, 2014 – GlobeImmune, Inc., today announced that on February 11, 2014, the company completed a $7.5 million private placement of convertible notes and warrants. The notes accrue interest and will be settled in cash or stock under various scenarios. Proceeds from the private placement are to be used for general corporate purposes. SternAegis Ventures, through Aegis Capital Corp., acted as the placement agent for the offering.
GlobeImmune is focused on advancing multiple clinical programs in infectious disease and oncology. Ongoing studies of Tarmogen product candidates include a Phase 2 trial of GS-4774 for chronic hepatitis B being conducted by Gilead Sciences, Inc. under the company’s license agreement, a Phase 2 trial of GI-6207 in patients with metastatic medullary thyroid cancer being conducted at the National Cancer Institute (NCI), and GI-6301 being developed under a license with Celgene Corporation.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
GlobeImmune is a biopharmaceutical company focused on developing products for the treatment of infectious disease and and oncology based on its proprietary Tarmogen platform. Tarmogens are believed to activate the immune system by stimulating cellular immunity, known as T cell immunity, in contrast to traditional vaccines that predominately stimulate antibody production. To date, Tarmogen product candidates have been generally well tolerated in clinical trials for multiple disease indications and are efficient to manufacture. In May 2009, the company entered into a collaboration agreement with Celgene Corporation focused on the discovery, development and commercialization of product candidates for the treatment of cancer. In October 2011, the company entered into a worldwide, strategic collaboration with Gilead Sciences, Inc., to develop Tarmogens for the treatment of chronic hepatitis B infection. For additional information, please visit the company’s website at www.globeimmune.com.