Connect Biopharma Secures $20.2M Financing, Rademikibart Yields 96.6% EASI-75 at Week 52
Connect Biopharma raised approximately $20.2 million in a private placement of 6.13 million ordinary shares at $3.25 each, extending its cash runway into the second half of 2027. In a Phase 3 52-week atopic dermatitis trial, its candidate rademikibart delivered EASI-75 in 96.6% of patients, IGA 0/1 in 87.1%, EASI-90 in 85.3%, and maintained a placebo-comparable safety profile with low conjunctivitis rates through one year.
1. Private Placement Financing
Connect Biopharma entered into a securities purchase agreement to sell 6,130,000 ordinary shares at $3.25 per share, led by Panacea Venture and other U.S.-based healthcare investors. Gross proceeds of $20.2 million, before fees, are earmarked for clinical research, development programs, working capital and corporate purposes, extending cash runway into H2 2027.
2. Phase 3 Atopic Dermatitis Study Results
In a randomized, double-blind, placebo-controlled 52-week trial involving 259 patients, rademikibart achieved 96.6% EASI-75, 87.1% IGA 0/1, and 85.3% EASI-90 by Week 52. The antibody demonstrated a safety profile comparable to placebo during the induction phase and maintained low conjunctivitis rates, underscoring its potential as a best-in-class IL-4Rα blocker.