The Life Sciences team advised Advaxis, Inc. on the closing of its public offering of 16,666,666 shares of its common stock and warrants to purchase up to 14,166,666 shares of common stock. Net proceeds from the offering are expected to be used to fund Advaxis’ continued research and development initiatives in connection with expanding its novel immunotherapy-related product pipeline and for other general corporate purposes. The gross proceeds were approximately $20 million, before deducting underwriting discounts and commissions and other offering expenses, and excluding the exercise of any warrants.
Advaxis (NASDAQ:ADXS) is a late-stage biotechnology company focused on the discovery, development and commercialization of proprietary live attenuated Listeria monocytogenes (Lm) antigen delivery products. The company’s immunotherapies are based on a platform technology that utilizes bioengineered Lm to secrete antigen/adjuvant fusion proteins.
The Goodwin team was led by partner Kristopher Brown and included partners Seo Salimi, Janet Andolina, Julie Tibbets, Martin Carmichael and Ettore Santucci; and associates Jesse Nevarez, Kelvin Lin, Mayan Katz, Andrew Wilson, Elizabeth Mulkey, Melissa Paddock.
For additional details on the offering, please read the press release.