TScan Therapeutics, Inc. Secures $30 Million Financing Deal
Breaking News: TScan Therapeutics Enters into Securities Purchase Agreement
WALTHAM, Mass., Dec. 26, 2024 (GLOBE NEWSWIRE) — TScan Therapeutics, Inc. (Nasdaq: TCRX), a clinical-stage biotechnology company, has announced a significant milestone in its quest to develop innovative cancer therapies. The company has entered into a securities purchase agreement with Lynx1 Capital Management LP (Lynx1), securing approximately $30 million in funding for the development of T cell receptor (TCR)-engineered T cell (TCR-T) therapies.
Details of the Agreement
The securities purchase agreement involves the sale of pre-funded warrants to purchase up to 7,500,000 shares of TScan Therapeutics’ voting common stock. Each pre-funded warrant is priced at $4.00, with an exercise price of $0.0001 per share. This deal represents a 37% premium to the last closing price of TScan Therapeutics’ common stock and a 34% premium over the 10-day volume weighted average closing price.
Expected Impact
The financing is scheduled to close on or about December 27, 2024, subject to customary closing conditions. This infusion of capital will enable TScan Therapeutics to accelerate its research and development efforts, bringing novel TCR-T therapies one step closer to patients in need.
How This News Will Affect You
As a potential patient, this financing deal could mean increased access to cutting-edge TCR-T therapies for the treatment of cancer. TScan Therapeutics’ innovative approach has the potential to revolutionize cancer care, offering new hope for improved treatment outcomes.
Global Implications
On a global scale, the advancements made by TScan Therapeutics have the potential to impact cancer treatment paradigms worldwide. The development of TCR-T therapies represents a significant step forward in the fight against cancer, potentially addressing unmet medical needs and improving patient outcomes globally.
Conclusion
The securities purchase agreement between TScan Therapeutics and Lynx1 Capital Management LP marks a pivotal moment in the advancement of TCR-T therapies for the treatment of cancer. With increased funding, TScan Therapeutics is well-positioned to accelerate its research and development efforts, bringing hope to patients and making a lasting impact on the world of oncology.
