Rein Therapeutics Enters into Agreements for up to $21 Million in Flexible Financing

Core Insights - Rein Therapeutics has entered into two strategic financing agreements with Yorkville Advisors Global, LP, potentially providing access to up to $21 million in capital to support its clinical trials and pipeline advancement [1][2]. Financing Details - The financing consists of a $6 million pre-paid advance agreement, with an initial $1 million advance funded at signing, and a $15 million standby equity purchase agreement (SEPA) that can be utilized at the company's discretion over 36 months [9]. - The pre-paid advance facility allows for up to $6 million to be drawn in mutually agreed tranches over the next twelve months, with each advance purchased at a 5% discount and repayable in common stock if requested by Yorkville [9]. - The SEPA gives Rein the option to sell up to $15 million of common stock over 36 months, contingent upon an effective registration statement [9]. Company Overview - Rein Therapeutics is a clinical-stage biopharmaceutical company focused on developing first-in-class therapies for orphan pulmonary and fibrosis indications [7]. - The lead product candidate, LTI-03, is a synthetic peptide targeting alveolar epithelial cell survival and inhibiting profibrotic signaling, currently in clinical development for idiopathic pulmonary fibrosis (IPF) [7]. - Rein's second product candidate, LTI-01, has completed Phase 1b and Phase 2a clinical trials for loculated pleural effusions and has received Orphan Drug Designation in both the U.S. and E.U. [7].