RARE Daily

Catalyst Biosciences Raises $50 Million to Advance Rare Disease Pipeline

January 27, 2021

Rare Daily Staff

Protease engineering platform company Catalyst Biosciences raised $50 million through an underwritten public offering of 8.7 million shares of its common stock priced at $5.75 per share.

Catalyst also granted the underwriters a 30-day option to purchase up to an additional 1.3 million shares of its common stock, subject to customary closing conditions.

Catalyst, which targets unmet medical needs in rare disorders of the complement and coagulation systems, anticipates using the net proceeds from this offering for general corporate purposes including research, development and manufacturing activities in its hemophilia and complement programs, specifically MarzAA, a subcutaneously administered next-generation engineered coagulation Factor VIIa for the treatment of episodic bleeding in subjects with rare bleeding disorders, and CB 4332, an enhanced complement Factor I, and others, plus general working capital needs.

The company’s complement pipeline also includes a preclinical program partnered with Biogen for dry age-related macular degeneration, an improved complement factor I protease for subcutaneously administered replacement therapy in patients with CFI deficiency, and C4b-degraders designed to target disorders of the classical complement pathway as well as other complement programs in development.

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