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An announcement from Edesa Biotech ( (EDSA) ) is now available.
Edesa Biotech announced a $15 million private placement led by Velan Capital, with significant participation from healthcare-focused institutional investors and insiders. The funds will support Edesa’s CXCL10 antibody program through 2026, notably advancing EB06 into a Phase 2 clinical study for nonsegmental vitiligo. This strategic financing enhances Edesa’s market position in the biopharmaceutical industry by securing resources for pivotal clinical trials and strengthening its board with the appointment of David Liu from Velan Capital.
More about Edesa Biotech
Edesa Biotech, Inc. is a clinical-stage biopharmaceutical company that focuses on developing therapies for inflammatory and immune-related diseases. Their clinical pipeline targets Medical Dermatology and Respiratory therapeutic areas, with key products including EB06 for vitiligo, EB01 for chronic Allergic Contact Dermatitis, and EB05 for Acute Respiratory Distress Syndrome.
YTD Price Performance: -2.11%
Average Trading Volume: 26,923
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $6.45M
Learn more about EDSA stock on TipRanks’ Stock Analysis page.
