Jerusalem based Entera Bio Ltd. Announces Pricing of IPO for conducting Clinical Trials of Three Orally delivered Drugs targeting the Gastrointestinal Tract

Entera Bio Ltd. (NASDAQ:ENTX) (NASDAQ:ENTXW), a clinical-stage biopharmaceutical company focused on the development and commercialization of orally delivered large molecule therapeutics and is  conducting clinical trials of three oral drugs based on a proven active compound, announced June 28th 2-19 the pricing of its initial public offering of 1,400,000 units, with each unit consisting of one ordinary share and one warrant to purchase 0.5 of an ordinary share, at a combined price of $8.00 per unit.

The Company has granted a 30 day overallotment option to the underwriters to purchase up to 210,000 additional ordinary shares and/or 210,000 additional warrants to purchase up to a total of 105,000 ordinary shares. The units will immediately and automatically separate upon issuance, and the ordinary shares and warrants are expected to begin trading today on The NASDAQ Capital Market under the symbols “ENTX” and “ENTXW“, respectively. The warrants will be exercisable immediately at an exercise price of $8.40 per share and will expire five years from the date of issuance, subject to certain exceptions.

Gross proceeds, before underwriting discounts and commissions and estimated offering costs, are expected to be approximately $11.2 million. The Company intends to use the net proceeds from this offering to fund its R&D expenses, including clinical trials, working capital and general corporate purposes.

Maxim Group LLC is acting as sole book-running manager and Joseph Gunnar & Co. is acting a co-manager for the offering.

About Entera Bio Ltd.
Entera Bio Ltd is a clinical-stage biopharmaceutical company focused on the development and commercialization of orally delivered large molecule therapeutics for use in orphan indications and other areas with significant unmet medical need. Entera Bio Ltd‘s technology addresses the two major problems of oral drug delivery of large molecule APIs (active pharmaceutical ingredients). Most large molecules cannot be administered orally as they are not readily absorbed by the gastrointestinal tract and are rapidly degraded by a myriad of enzymes and acids in the gastrointestinal tract.

Entera Bio Ltd‘s platform technology consists of two components combined to increase drug half-life and bioavailability. Proprietary combinations of protease inhibitors and chemical entities protect proteins and peptides. The first component is a proprietary molecular protection that prevents drug break down and significantly extends the half-life of drugs delivered in the gut. The second component is a proprietary synthetic amino acid that enables molecular transport of large molecules through the intestinal wall. The Company is initially applying its technology to develop an oral formulation of parathyroid hormone (PTH) for hypoparathyroidism (EB612) and osteoporosis (EB613).

Source = http://globenewswire.com/news-release/2018/06/28/1531000/0/en/Entera-Bio-Ltd-Announces-Pricing-of-Initial-Public-Offering.html

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