Telomir Pharmaceuticals (NASDAQ: TELO) announced an approximately $5.6 million private investment in public equity (“PIPE”) financing through the issuance of 4,843,300 common shares at $1.16 per share, representing a 5% discount to the applicable 10-day volume-weighted average price. The financing includes an additional $1 million investment from existing significant shareholder John Paul DeJoria and does not include investor warrants, convertible securities or variable-price or reset features.
Telomir intends to use the net proceeds primarily to support clinical development of Telomir-Zn, including its Phase 1/2 clinical program in advanced or metastatic triple-negative breast cancer (“TNBC”), as well as for working capital and general corporate purposes. The FDA has cleared the company Investigational New Drug application for Telomir-Zn, enabling it to proceed with its first-in-human Phase 1/2 trial in patients with advanced or metastatic TNBC.
To view the full press release, visit https://ibn.fm/0KMpl
About Telomir Pharmaceuticals
Telomir Pharmaceuticals, Inc. (NASDAQ: TELO) is a clinical-stage biotechnology company developing small-molecule therapeutics targeting epigenetic and metabolic pathways implicated in cancer. The Company’s lead program, Telomir-Zn, is designed to modulate intracellular metal homeostasis and epigenetic regulation and has received Investigational New Drug (IND) clearance from the U.S. Food and Drug Administration for a Phase 1/2 clinical trial in patients with advanced or metastatic triple-negative breast cancer.
NOTE TO INVESTORS: The latest news and updates relating to TELO are available in the company’s newsroom at https://ibn.fm/TELO
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