AEON Biopharma Secures Strategic Financing for Clinical Development
Company Announcements

AEON Biopharma Secures Strategic Financing for Clinical Development

AEON Biopharma (AEON) has shared an announcement.

AEON Biopharma, Inc. has entered into a Subscription Agreement with Daewoong Pharmaceutical Co., LTD. to issue up to $15 million in senior secured convertible notes, potentially convertible into AEON’s Class A common stock. AEON intends to use the proceeds to advance the clinical development of their primary product candidate ABP-450 and for general corporate purposes. The agreement includes the possibility of Daewoong appointing a director to AEON’s board and stipulates conditions under which the notes can be converted or redeemed. The deal, secured by a first-priority interest in nearly all of AEON’s assets, underscores the company’s strategic financing efforts to bolster its pipeline and ensure operational liquidity.

For an in-depth examination of AEON stock, go to TipRanks’ Stock Analysis page.

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