U.S. immunotherapy company Alpine Immune Sciences Inc. is planning to raise $25.3 million in a private placement through the sale of units.
The company plans to use the net proceeds to finance the advancement of its lead programs ALPN-101 in autoimmune and inflammatory indications and ALPN-202 in cancer.
Decheng Capital is leading the private placement with participation from existing backers OrbiMed Advisors, Frazier Healthcare Partners, Alpine BioVentures, and BVF Partners L.P.
The private placement, which is subject to the satisfaction of customary closing conditions, is anticipated to be finalized on or about January 18, 2019.