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Vtv Therapeutics Announces Investment By Cinrx Pharma

Jul 25, 2022almost 3 years ago
High PointMedicalBiotechnologyHealth Care

Description

vTv Therapeutics Inc. (Nasdaq: VTVT) today announced entry into agreements that include a $10 million investment by CinPax, LLC (“CinPax”), a subsidiary of CinRx Pharma, LLC (“CinRx”). Under the terms of the agreements, CinPax acquired 4,154,549 shares of Class A Common Stock of vTv at an issue price of approximately $2.41 per share, with $6 million paid in cash at closing, and the remaining amount of $4 million payable on November 22, 2022. The agreements also provide for the issuance of 1.2 million warrants to CinRx to acquire additional shares of Class A Common Stock that become exercisable upon agreed vesting triggers (including FDA approval of TTP399 (“FDA Approval”))

Company Information

Company

vTv

Location

High Point, North Carolina, United States

About

vTv has a pipeline of clinical drug candidates led by programs for the treatment of type 1 diabetes and cystic fibrosis related diabetes.