Estrella Immunopharma Inc., a clinical stage biopharmaceutical company, has announced a private placement equity financing expected to generate approximately $3.35 million in gross proceeds. Under the securities purchase agreement, Estrella will issue 2,333,334 shares of common stock at $1.50 per share. The funds will be used to support the completion of Phase I of the STARLIGHT-1 clinical trial, which evaluates the EB103, a CD19-Redirected ARTEMIS® T-cell therapy, for treating relapsed/refractory B-cell non-Hodgkin's lymphoma. Estrella's CEO, Cheng Liu, expressed confidence in the potential of their ARTEMIS® T-cell therapy, stating that the financing will advance the clinical development of EB103. The closing of the private placement is subject to customary conditions, and the company will file a registration statement with the SEC for the resale of the securities.
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