Traws Pharma Raises $10 Million in PIPE With Up to $60 Million Tied to Trial Milestones

Overview

• Traws Pharma secured a private financing that delivers about $10 million upfront to advance its flu drug as its U.S. IND remains on FDA clinical hold.
• The company said cash from this round will fund near-term work once customary closing conditions are satisfied.
• The package adds Series A, B, and C warrants that could bring in about $50 million if investors exercise them after set milestones.
• Triggers include MHRA approval to run a U.K. human challenge trial, required shareholder approval, and the public release of trial data.
• The deal priced at $1.6730 per share, was led by Sirenia Capital with Cantor Fitzgerald as lead placement agent, and was sold as a non-public PIPE with resale registration to follow.