The financing is part of a two-step funding process that will likely include an initial public offering (IPO) in 2018. MDB Capital Group LLC, a cofounder of Provention, acted as placement agent for the offering, in which Johnson & Johnson Innovation – JJDC, Inc. (JJDC) and the JDRF T1D Fund, LLC. co-invested.
The company will use the proceeds to advance its pipeline of therapeutics.
Co-founded by Ashleigh Palmer, CEO, and Francisco Leon, MD, Ph.D., Provention Bio is a clinical-stage biopharmaceutical company dedicated to sourcing, developing and commercializing novel therapeutics and solutions to intercept and prevent immune-mediated disease. Its predict and prevent therapeutic model is focused on developing drugs that intervene before the targeted disease begins, re-appears or progresses. The pipeline includes clinical-stage assets licensed from Janssen Research & Development, LLC (Janssen) and Vactech Oy (a Finnish biotechnology company), which the company will be developing for Crohn’s disease, ulcerative colitis, emerging viral infections, and the prevention of type1 diabetes (T1D).
FinSMEs
26/06/2017