ROCKVILLE, MD — A clinical-stage biopharmaceuticals company raised $23.6 million by selling 1.1 million shares to an investor, according to a filing with the Securities and Exchange Commission.
MacroGenics Inc. entered the agreement with an investor not affiliated with the company on April 26. The shares were offered at $21.50 per share. The closing of the offering is expected to occur on May 2. No underwriter or agent was used.
Founded in 2000, the company focuses on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer, autoimmune disorders and infectious diseases.
On its website, the company has eleven products listed in its pipeline and three platforms. It has several strategic collaborations with global pharmaceutics and biotechnology companies through its technology platforms and protein engineering expertise.
Senior Vice President and General Counsel Atul Saran signed the filing April 26. The filing can be found here.
MacroGenics was trading at $21.94, up 26 cents, on Thursday morning.
This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism