Curated News
By: NewsRamp Editorial Staff
October 11, 2024

Clene Inc. Closes $7.3 Million Funding Round for Neurodegenerative Disease Treatment

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Source News Release

TLDR

  • Investors can gain advantage from $7.3 million direct offering to boost Clene's capital position for future growth.
  • Clene's capital position is strengthened through $7.3 million direct offering and concurrent private placements with healthcare-focused institutional investor and existing shareholders.
  • Clene's lead drug candidate, CNM-Au8®, offers new hope for patients with ALS and other neurodegenerative conditions by restoring and protecting neurological function.
  • Clene is seeking accelerated FDA approval for CNM-Au8 for ALS, with a meeting scheduled before the end of November.

Impact - Why it Matters

This news matters as it showcases Clene's efforts to secure funding for their research into neurodegenerative diseases, offering hope for patients with conditions like ALS. The success of their funding efforts and the progress of their lead drug candidate could potentially lead to new treatment options and improved quality of life for patients with these debilitating conditions.

Summary

Clene (NASDAQ: CLNN) and its wholly owned subsidiary, Clene Nanomedicine Inc., have successfully closed a $7.3 million registered direct offering and concurrent private placements to boost their capital position during a crucial phase in ongoing operations. The offerings will support the company’s operations into the first quarter of 2025, with amended debt facilities to reduce or defer future monthly principal payments and extend the final maturity date into the first half of 2025. Clene's lead drug candidate, CNM-Au8®, has shown promise in restoring and protecting neurological function, offering hope for patients with ALS and other neurodegenerative conditions. The company is also seeking an accelerated approval pathway for CNM-Au8 for ALS, with an FDA meeting scheduled before the end of November.

Source Statement

This curated news summary relied on this press release disributed by InvestorBrandNetwork (IBN). Read the source press release here, Clene Inc. Closes $7.3 Million Funding Round for Neurodegenerative Disease Treatment

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