(MENAFN- Investor Brand Network) Aileron Therapeutics (NASDAQ: ALRN)
is a biopharmaceutical company advancing a novel pipeline of first-in-class medicines to address significant unmet medical needs in orphan pulmonary and fibrosis indications. The company has announced the closing of its underwritten registered direct offering priced at-the-market under Nasdaq rules of 4,273,505 shares of its common stock and accompanying warrants to purchase an aggregate of 4,273,505 shares of common stock. Aileron secured aggregate gross proceeds of approximately $20 million, before deducting underwriting discounts and commissions and other offering expenses and excluding any proceeds that may be received from exercise of the warrants. Titan Partners Group, a division of American Capital Partners, acted as sole book-running manager for the offering.
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About Aileron Therapeutics
Aileron is a biopharmaceutical company advancing a pipeline of first-in-class medicines to address significant unmet medical needs in orphan pulmonary and fibrosis indications. Aileron's lead product candidate, LTI-03, is a novel, synthetic peptide with a dual mechanism targeting alveolar epithelial cell survival as well as inhibition of profibrotic signaling. Currently, LTI-03 is being evaluated in a Phase 1b clinical trial for the treatment of idiopathic pulmonary fibrosis. Aileron's second product candidate, LTI-01, is a proenzyme that has completed Phase 1b and Phase 2a clinical trials for the treatment of loculated pleural effusions. LTI-01 has received Orphan Drug Designation in the U.S. and EU and Fast Track Designation in the U.S.
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