Climb Bio Secures $110M in Private Placement via 9.48M Shares at $9.50
Climb Bio has agreed to sell 9.48 million common shares at $9.50 and 2.11 million pre-funded warrants at $9.4999, raising approximate gross proceeds of $110 million, with closing expected April 29, 2026. Proceeds will support clinical development of budoprutug and CLYM116.
1. Key Financing Terms
Climb Bio is issuing 9,481,000 common shares at $9.50 each alongside pre-funded warrants for 2,106,000 shares at $9.4999, targeting gross proceeds of approximately $110 million. The company expects the offering to close on or about April 29, 2026, subject to customary conditions.
2. Investor Participation
The private placement features participation from both new and existing institutional investors, including Adage Capital, RA Capital, Redmile and others. Leerink Partners and Piper Sandler are the lead placement agents, supported by Raymond James, BTIG, Baird and H.C. Wainwright.
3. Use of Proceeds and Pipeline Impact
Net proceeds from the offering will bolster Climb Bio’s balance sheet and fund ongoing clinical development of budoprutug, its anti-CD19 monoclonal antibody, and CLYM116, its anti-APRIL therapy for IgA nephropathy. The capital infusion is expected to extend runway through key trial milestones.
4. Warrants and Registration
Pre-funded warrants carry an exercise price of $0.0001 per share and are exercisable immediately, subject to ownership limits. Climb Bio will file a resale registration statement within 45 days after closing to register the common shares and warrant shares for future trading.