Lucosky Brookman LLP Acts as Counsel to Konik Capital Partners on Closed $50 Million PIPE Financing for Kazia Therapeutics
Kazia Therapeutics Limited (NASDAQ: KZIA), an oncology-focused drug development company based in Sydney, Australia, announced the successful closing of a private placement of equity securities (PIPE) totaling approximately $50.0 million. Each ADS, representing 500 ordinary shares, was priced at the equivalent of $5.00 per ADS.
The PIPE was led by healthcare-dedicated investors including Adar1 Capital Management LLC, Ikarian Capital LLC, Stonepine Capital Management, Velan Capital Investment Management LP, and Revach Capital Management, LLC, alongside existing shareholders, including Jorey Chernett.
The net proceeds to the Company from the PIPE are expected to be approximately $46.5 million. Kazia intends to use the proceeds, together with existing cash, to support the continued clinical development of its lead program, paxalisib, a brain-penetrant dual PI3K/mTOR inhibitor currently in clinical trials for brain cancer and advanced breast cancer, advancing the PD-L1 degrader program, and for general corporate purposes. Following the PIPE, the Company expects to extend its cash runway into the second half of 2028.
Konik Capital Partners, LLC acted as exclusive placement agent for the PIPE.
Lucosky Brookman LLP acted as counsel to Konik Capital Partners.