VERAXA Biotech Begins Nasdaq Trading, Secures $27.5M Note and $50M Financing
VACH•VERAXA Biotech completed its business combination with Voyager Acquisition and began trading on Nasdaq under symbol VRXA, with warrants under VRXAW. It raised $27.5 million via a senior secured note and up to $50 million in a securities purchase agreement to advance its BiTAC-TCE and BiTAC-ADC programs toward clinical trials.
1. Business Combination and Nasdaq Listing
VERAXA Biotech completed its SPAC merger with Voyager Acquisition, resulting in the formation of VERAXA Biotech AG and began trading on the Nasdaq Capital Market under the symbol VRXA with warrants under VRXAW.
2. Financing and Capital Structure
The company secured $27.5 million through a senior secured note and arranged for up to $50 million under a securities purchase agreement to fund its development programs.
3. BiTAC Pipeline and Preclinical Progress
VERAXA is advancing bispecific T-cell engagers and antibody-drug conjugates developed on its proprietary BiTAC platform, and recently presented preclinical data at the AACR Annual Meeting demonstrating safety and efficacy for its lead BiTAC-TCE candidate.
