Chemomab Therapeutics Announces $10 Million Private Placement

Core Viewpoint - Chemomab Therapeutics Ltd. has announced a private investment in public equity (PIPE) expected to generate approximately $10 million in gross proceeds, which will extend its cash runway to fund operations through early 2026, one year longer than previously projected [3][4]. Funding and Use of Proceeds - The net proceeds from the PIPE will be utilized alongside existing cash to support the development of CM-101, as well as for general corporate purposes and working capital [2][4]. - The PIPE involves the sale of 4,188,867 American Depositary Shares (ADSs) at a price of $1.235 per share, reflecting the average share price over the last four trading days [4]. Company Overview - Chemomab is a clinical-stage biotechnology company focused on developing therapeutics for fibro-inflammatory diseases with significant unmet needs [12]. - The company has developed CM-101, a monoclonal antibody targeting CCL24, which has shown a favorable safety profile in clinical trials and is positioned to treat various severe fibro-inflammatory diseases [12]. Clinical Development - Chemomab has reported positive results from four clinical trials of CM-101, including a Phase 2 trial for primary sclerosing cholangitis and a Phase 2a trial for liver fibrosis [12]. - The CM-101 program for systemic sclerosis is ready for Phase 2 trials with an open U.S. IND [12].