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VBL Therapeutics (Nasdaq: VBLT) announced a registered direct offering of 6,349,208 ordinary shares at a price of $1.575 each, projected to raise approximately $10 million. Concurrently, the company will issue unregistered warrants for the same number of shares, with an exercise price of $1.45, expiring in 18 months. The offering's closing is expected on May 11, 2020, pending customary conditions. Proceeds will support working capital and general corporate needs.
VBL Therapeutics (VBLT) announced promising data on its proprietary anti-MOSPD2 antibodies for treating chronic inflammatory diseases like NASH and colitis. The study demonstrated significant reductions in inflammation and fibrosis in model tests, earning a top 10% rating at the Digestive Disease Week 2020. VBL plans a pre-IND filing later this quarter and aims to initiate clinical development in 2021. The findings suggest VBL's MOSPD2-targeting approach could provide a novel treatment option for patients with advanced liver disease and inflammatory bowel disorders.
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