Camp4 Therapeutics announces oversubscribed private placement up to $100M

CAMP4 Therapeutics (CAMP) entered into definitive securities purchase agreements with certain institutional and accredited investors for up to $100M in gross proceeds through a private placement. CAMP4 intends to use the net proceeds from the private placement to fund the preclinical and clinical development of its SYNGAP1 program, working capital, and general corporate purposes. The private placement is comprised of an initial upfront financing of $50M in gross proceeds in exchange for 26,681,053 shares of common stock priced at $1.53 per share of common stock sold at the initial closing, 36,361 shares of common stock priced at $1.65 to certain directors, employees and consultants of CAMP4 at the initial closing, and 6,003,758 pre-funded warrants in lieu of common stock for $1.5299 for each pre-funded warrant sold in lieu of common stock at the initial closing. In addition, CAMP4 will be eligible to receive up to an additional $50 million in gross proceeds in exchange for up to 32,721,172 shares of common stock, subject to achieving pre-specified milestones, including receipt of regulatory clearance to initiate a Phase 1/2 clinical trial in SYNGAP patients with its development candidate, CMP-SYNGAP-01. The financing is being led by new investor Coastlands Capital, and includes participation from additional new and existing investors including Janus Henderson Investors, Balyasny Asset Management, Vivo Capital, 5AM Ventures, Adage Capital Management, Trails Edge Capital Partners and the SynGAP Research Fund. Leerink Partners is acting as lead placement agent for the financing. Piper Sandler & Co., Cantor Fitzgerald, and Wedbush & Co. are acting as co-placement agents for the financing.