India, April 30 -- Cue Biopharma, Inc. (CUE), a clinical-stage biopharmaceutical company, announced that it has entered into a securities purchase agreement with certain accredited investors for a private placement for gross proceeds of approximately $30 million and has appointed Shao-Lee Lin as the new Chief Executive Officer, President and Director.
Also, in a parallel announcement, the firm said it has entered into an exclusive license agreement with Ascendant Health Sciences Ltd. to develop, manufacture, and commercialise its lead asset Ascendant-221, a Phase 2 clinical-stage anti-IgE monoclonal antibody for the treatment of allergic diseases.
Net proceeds from the PIPE financing are expected to be used to advance the Company's clinic...