Gossamer Bio Secures Up to $250M Financing for Seralutinib Development
Gossamer Bio has secured up to $250 million in private funding aimed at advancing the development and potential FDA approval of seralutinib, a drug intended for treating pulmonary arterial hypertension (PAH) and PH-ILD. The financing includes an initial closing raising approximately $25 million through pre-funded warrants priced at $0.14 per share minus nominal exercise costs. The company plans to submit the NDA by September 2026, with a subsequent closing unlocking up to $125 million if FDA accepts the application. Investors will also receive additional funding opportunities via exercisable warrants upon FDA approval, potentially adding another $100 million in capital. The financing is supported by key institutional investors such as EcoR1 Capital and RA Capital Management. Gossamer Bio regained global rights to seralutinib earlier this year through a partnership with Chiesi Farmaceutici announced in May 2024, which aims at developing and marketing the drug for pulmonary hypertension. The company expects these funds will support operations until 2028.
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Topics: biotech clinical development pharmaceuticals private placement