Jade Biosciences Announces $45 Million Private Placement

Core Viewpoint - Jade Biosciences, Inc. has entered into a securities purchase agreement with BB Biotech for a private placement financing expected to yield approximately $45 million in gross proceeds before offering expenses [1][2]. Group 1: Financing Details - Jade is selling 3,214,286 shares of its common stock at a price of $14.00 per share [2]. - The private placement is anticipated to close on or about December 16, 2025, pending customary closing conditions [2]. - The net proceeds from this private placement will be allocated to research and development, general corporate expenses, and working capital needs [2]. Group 2: Securities Information - The securities involved in this transaction are not registered under the Securities Act of 1933 and cannot be reoffered or resold in the U.S. without an effective registration statement or applicable exemption [3]. - A registration rights agreement has been established, obligating the Company to file a registration statement with the SEC for the resale of the shares sold in the private placement [3]. Group 3: Company Overview - Jade Biosciences is a clinical-stage biotechnology company focused on developing therapies for autoimmune diseases [5]. - The lead candidate, JADE101, targets the cytokine APRIL and is currently in a Phase 1 clinical trial for immunoglobulin A nephropathy [5]. - The pipeline includes JADE201, an afucosylated anti-BAFF-R monoclonal antibody, and JADE-003, an undisclosed antibody discovery program, both in preclinical development [5].