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Kiromic Biopharma Arranges Up To $10 Million Financing

Oct 27, 2022•almost 3 years ago

Amount Raised

$10 Million

Houston

Description

Kiromic BioPharma, Inc. (NASDAQ: KRBP) (“Kiromic” or the “Company”), a clinical-stage fully-integrated biotherapeutics company using its proprietary DIAMOND® artificial intelligence and data mining platform to develop cell and gene therapies with a focus on immuno-oncology, announces it entered into a Standby Equity Purchase Agreement (the “SEPA”) with YA II PN, LTD, a partnership managed by Yorkville Advisors Global LP, a global investment manager, to sell up to $8 million of the Company’s stock at any time during the 24 months following the date of the SEPA, subject to the effectiveness of a registration statement with the Securities and Exchange Commission and other conditions.

Company Information

Company

Kiromic

Location

Houston, Texas, United States

About

Kiromic BioPharma, Inc. is a clinical-stage, fully integrated biotherapeutics company using our proprietary DIAMOND® artificial intelligence (AI) platform to discover and develop cell and gene therapies with a therapeutic focus on immuno-oncology and other diseases. Kiromic is in the process of developing a multi-indication allogeneic CAR-T cell therapy that exploits the natural potency of Gamma Delta T-cells to target solid cancers. From our heritage as a cancer vaccine development company, Kiromic is focused on discovering, developing, and commercializing novel immuno-oncology applications through its robust product pipeline. Our pipeline development is leveraged through the Company’s proprietary target discovery engine called "DIAMOND," where big data science meets target identification to dramatically compress the man-years and billions of drug development dollars required to develop a live drug.

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