Aeglea BioTherapeutics Lands $50,000,000 New Round

  • Feed Type
  • Date
    4/7/2016
  • Company Name
    Aeglea BioTherapeutics
  • Mailing Address
    815 Brazos Street Austin, TX 78701 USA
  • Company Description
    Aeglea BioTherapeutics (NASDAQ: AGLE) is developing two drugs invented at UT Austin, novel engineered human enzymes that degrade the amino acids L-methionine (L-Met), or L- arginine (LArg) in the circulation. These drugs target the dependence of different tumors on L- Met or L-Arg for survival.
  • Website
    http://www.aegleabio.com
  • Transaction Type
    IPO
  • Transaction Amount
    $50,000,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    We currently intend to use the net proceeds we receive from this offering as follows: approximately $25.0 million to fund the continuing development of AEB1102: approximately $15.0 million to fund the advancement of additional product candidates; and the balance to fund working capital, including general operating expenses.Based upon our planned use of our existing cash, cash equivalents, marketable securities and the net proceeds from this offering, we estimate such funds will be sufficient for us to fund the planned Phase 1 trial in the United States, the planned Phase 2 trial in Europe for AEB1102 for the treatment of patients with Arginase I deficiency, and to continue to fund our Phase 1 trial for AEB1102 for the treatment of solid tumors and initiate two other planned Phase 1 trials for AEB1102 for the treatment of cancer patients.
  • M&A Terms