Sept 13, 2017 – Entera is developing a drug for the treatment of osteoporosis.
After announcing its general plan for a Nasdaq IPO, as well as considering merging into cash-heavy stock exchange shell Alcobra, Entera Bio has announced plans to raise $10 million at a company value of $94 million, fully diluted. The money raised will serve the company as a bridge, with the possibility of a later offering or another significant deal. Entera is developing a drug for treatment of osteoporosis and primary hypoparathyroidism (PHP).
The announcement was published by DNA Biomedical Solutions Ltd. (TASE: DNA), which holds 33% of Entera’s shares. DNA Biomedical announced that it would invest $5 million in the round, and would own 30% of Entera following that. DNA Biomedical previously received a loan from Capital Point Ltd. (TASE:CPTP) in order to participate in this financing round. Following the investment and after giving Capital Point shares in Entera according to the agreement, DNA Biomedical will own 30% of Entera.
DNA Biomedical’s share rose 8% yesterday, pushing its market cap up to NIS 50 million.
For more information, see: Globes – http://www.globes.co.il/en/article-entera-bio-raising-10-at-94m-valuation-1001205006