Relay Therapeutics Announces $30 Million Private Placement Financing
01/08/24, 12:10 PM
Location
Money raised
$30 million
Industry
biotechnology research
Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading-edge computational and experimental technologies, today announced that it has entered into a securities purchase agreement for a private placement financing (the “PIPE”) with Nextech to sell an aggregate of 2.5 million shares of common stock at a price per share of $12.00, a premium to the closing price on January 5, 2024, that is expected to result in gross proceeds of $30.0 million.
Company Info
Location
c/o sv health investors, llc
cambridge, maryland, united states
Additional Info
Relay Therapeutics is a clinical-stage precision medicines company transforming the drug discovery process. Built on unparalleled insights into protein motion and how this dynamic behavior relates to protein function, our approach combines unprecedented computational power with leading-edge experimental approaches across the fields of structural biology, biophysics, chemistry and biology. By applying these insights, we believe we have a differentiated approach to drug protein targets based on their motion, enabling us to select and advance unique product candidates that can be developed into novel therapies for patients.
Located in Cambridge, Massachusetts, our world-class team is equal parts bright and bold, with a shared passion for working in intellectually stimulating environments. If you're creative, collaborative and passionate about making a difference in the lives of patients, join us!