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Vtv Therapeutics Announces Investment By Cinrx Pharma

Vtv Therapeutics Announces Investment By Cinrx Pharma

07/25/22, 11:03 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svghigh point
Industry
medical
biotechnology
health care
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 Info

Company
vTv
Location
high point, north carolina, united states
Additional Info
vTv has a pipeline of clinical drug candidates led by programs for the treatment of type 1 diabetes and cystic fibrosis related diabetes.