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Belite Bio Secures $15 Million in Direct Offering to Advance Retinal Disease Therapeutics

  • Belite Bio has entered into a securities purchase agreement for $15 million through a registered direct offering of ADSs and warrants at $58.07 per unit, with potential for additional $15 million from warrant exercises.

  • The clinical-stage biopharmaceutical company focuses on developing treatments for degenerative retinal diseases, including Stargardt disease and Geographic Atrophy in advanced dry AMD.

  • The offering, expected to close by February 7, 2025, will provide working capital for advancing the company's novel therapeutic pipeline targeting significant unmet medical needs.

Belite Bio, Inc (Nasdaq: BLTE) has secured a significant financial boost through a registered direct offering, raising $15 million to advance its therapeutic pipeline targeting degenerative retinal diseases. The clinical-stage biopharmaceutical company has reached an agreement with a new fundamental healthcare investor for the sale of 258,309 American Depositary Shares (ADSs) and accompanying warrants.

Deal Structure and Financial Terms

The securities are being offered at $58.07 per ADS and accompanying warrant, matching the company's closing price. The deal structure includes warrants to purchase an additional 258,309 ADSs, potentially generating another $15 million in proceeds over their five-year term. Titan Partners Group, operating under American Capital Partners, serves as the sole placement agent for this transaction.

Strategic Focus on Retinal Diseases

Belite Bio specializes in developing novel therapeutics for retinal degenerative conditions with significant unmet medical needs. Their research portfolio includes treatments for:
  • Stargardt disease
  • Geographic Atrophy in advanced dry age-related macular degeneration
  • Select metabolic diseases
The company's lead candidate, Tinlarebant, represents their commitment to addressing these challenging ocular conditions, though specific development updates were not included in this announcement.

Regulatory Compliance and Offering Details

The offering is being conducted under a shelf registration statement on Form F-3 that was declared effective by the SEC on January 27, 2025. Expected to close around February 7, 2025, the transaction remains subject to customary closing conditions. The company plans to utilize the net proceeds for working capital and general corporate purposes.

Market Impact and Future Implications

This successful funding round demonstrates continued investor confidence in Belite Bio's therapeutic approach and development strategy. The additional capital is expected to strengthen the company's position in advancing its clinical programs and maintaining operational momentum in the competitive ophthalmology therapeutics space.
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Reference News

[1]
Belite Bio Announces Registered Direct Offering Of $15 Million
menafn.com · Feb 6, 2025
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