Icosavax Announces $67.8 Million Registered Direct Offering of Common Stock
May 22 2023 - 4:53PM
Icosavax, Inc. (Nasdaq: ICVX), a biopharmaceutical company
leveraging its innovative virus-like particle (VLP) platform
technology to develop vaccines against infectious diseases, with an
initial focus on life-threatening respiratory diseases and a vision
of creating pan-respiratory vaccines for older adults, today
announced that it has entered into a securities purchase agreement
with investors in a registered direct offering of 8,369,754 shares
of its common stock at a purchase price of $8.10 per share. The
financing was led by new investor TCGX with participation by
additional new investors including Logos Capital and Vivo Capital.
All of the shares are to be sold by Icosavax. Icosavax expects to
receive gross proceeds of approximately $67.8 million from the
offering.
The offering is expected to close on May 25, 2023, subject to
customary closing conditions.
The shares were offered pursuant to a shelf
registration statement on Form S-3 (File No. 333-266894) that was
previously filed with the U.S. Securities and Exchange Commission
(SEC) and declared effective by the SEC on August 29, 2022. A final
prospectus supplement, which contains additional information
relating to the offering, will be filed with the SEC and will be
available on the SEC’s website at www.sec.gov.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
About Icosavax
Icosavax is a biopharmaceutical company
leveraging its innovative VLP platform technology to develop
vaccines against infectious diseases, with an initial focus on
life-threatening respiratory diseases and a vision for combination
and pan-respiratory vaccines. Icosavax’s VLP platform technology is
designed to enable multivalent, particle-based display of complex
viral antigens, which it believes will induce broad, robust, and
durable protection against the specific viruses targeted.
Icosavax’s lead program is a combination vaccine candidate
targeting respiratory syncytial virus (RSV) and human
metapneumovirus (hMPV), and its pipeline includes additional
programs in influenza and severe acute respiratory syndrome
coronavirus 2 (SARS-CoV-2). Icosavax was formed in 2017 to advance
the breakthrough VLP technology from the Institute for Protein
Design at the University of Washington with the goal to discover,
develop, and commercialize vaccines against infectious diseases.
Icosavax is located in Seattle.
For more information,
visit www.icosavax.com.
Forward-Looking Statements
Statements contained in this press release
regarding matters that are not historical facts are forward-looking
statements. The forward-looking statements are based on the
company’s current beliefs and expectations and include, but are not
limited to limitation statements regarding the company’s
expectations on the completion, timing and size of the offering.
Actual results may differ from those set forth in this press
release due to the risks and uncertainties associated with market
conditions and the satisfaction of customary closing conditions
related to the offering, as well as risks and uncertainties
inherent in the company’s business described in the company’s prior
filings with the Securities and Exchange Commission (SEC),
including under the heading “Risk Factors” in the company’s
quarterly report on Form 10-Q for the quarter ended March 31, 2023
and any subsequent filings with the SEC. You are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date hereof, and the company undertakes no
obligation to update such statements to reflect events that occur
or circumstances that exist after the date hereof. All
forward-looking statements are qualified in their entirety by this
cautionary statement, which is made under the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995.
Icosavax’s Contacts
Media Contact:Jessica Yingling, Ph.D.,Little
Dog Communications Inc.jessica@litldog.com858.344.8091
Investor Contact:Laurence WattsGilmartin Group,
LLClaurence@gilmartinir.com619.916.7620
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