viewAeolus Pharmaceuticals, Inc.

Aeolus Pharmaceuticals raises funds

AEOL 10150 is being developed with funding from the US Department of Health and Human Services as a medical countermeasure against nuclear and chemical weapons, as well as a treatment for pulmonary fibrosis.

The issued shares come with warrants attached

Aeolus Pharmaceuticals (OTCBB:AOLS), a biotechnology company developing compounds to protect against fibrosis, inflammation, nerve damage and infection, is to raise US$6.75mln through a private placement.

Both existing and new investors in the company will be acquiring the shares, including entities associated with BVF Partners, a leading life sciences investment firm, which manages the Biotechnology Value Fund family of funds (BVF). 

Aeolus intends to use the funds from the share issue for general corporate and working capital purposes, including the development of AEOL 10150 as a medical counter-measure for the pulmonary effects of acute radiation syndrome, under the company's development contract with the Biomedical Advanced Research and Development Authority (BARDA).

In addition, the company intends to use the proceeds to pursue human clinical trials with AEOL 10150 in Idiopathic pulmonary fibrosis and radiation oncology and the completion of pre-clinical development of AEOL 20415 for infectious diseases and AEOL 11114B for Parkinson's disease.

The new shares have been issued at 22 cents a share, four cents below Friday's closing share price.

Quick facts: Aeolus Pharmaceuticals, Inc.

Price: 0.0016 USD

Market: PINK
Market Cap: $243.34 k

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


MGC Pharma updates on ArtemiC coronavirus study and first-ever THC shipment...

MGC Pharmaceuticals Ltd's (ASX:MXC) Roby Zomer speaks to Proactive's Andrew Scott soon after announcing positive results from a pre-clinical study of ArtemiCTM on rats with no pathological changes or differences between the study groups reported. He also discusses its first-ever shipments of the...

3 hours, 35 minutes ago

2 min read