From AI20 Jun 2025 14:25
“Pleiades Pharma is currently engaged in a fundraising round, which is progressing as expected with term sheets being negotiated with investors in the UAE. The funding is crucial for the completion of the acquisition of Lyramid from Roquefort Therapeutics. Pleiades remains confident in meeting the funding deadline, which is a key condition for the Lyramid transaction.
Here's a more detailed breakdown:
Purpose of Fundraising:
Pleiades is raising funds to finalize the acquisition of Lyramid, a subsidiary of Roquefort Therapeutics, which holds Roquefort's midkine patents for its mRNA and oligonucleotide programs, as well as the exclusive license for its antibody programs.
Fundraising Status:
The fundraising is progressing well, with term sheets being negotiated with prominent investors in the UAE.
Timeline:
The completion of the Lyramid acquisition is contingent on Pleiades completing its fundraising round and finalizing certain in-licensing transactions by June 30, 2025.
Significance of Lyramid:
Lyramid is a key asset for Roquefort, and its sale is part of Roquefort's strategy to realize value from its portfolio through licensing and trade-sale transactions.
Investor Confidence:
Pleiades is confident in its ability to successfully complete the fundraising round and satisfy the conditions precedent for the Lyramid acquisition. “