Estrella Immunopharma Secures $8 Million in Direct Offering to Advance Cancer Therapy Programs

Estrella Immunopharma announced the closing of its registered direct offering with a single healthcare-focused institutional investor, generating aggregate gross proceeds of approximately $8.0 million. The offering included the issuance of 4,063,290 shares of common stock and 1,000,000 pre-funded warrants, together with a concurrent private placement of common warrants to purchase up to 7,594,935 additional shares. Net proceeds are expected to be used for general corporate purposes and working capital as the company advances its CD19 and CD22-targeted ARTEMIS T-cell therapy programs, including lead candidate EB103. Aegis Capital Corp. acted as exclusive placement agent for the offerings.

This financing is significant for Estrella Immunopharma, a clinical-stage biopharmaceutical company developing CD19 and CD22-targeted ARTEMIS T-cell therapies to treat cancers and autoimmune diseases. The company's mission is to harness the evolutionary power of the human immune system to transform the lives of patients fighting cancer and other diseases. To accomplish this mission, Estrella's lead product candidate, EB103, utilizes Eureka's ARTEMIS technology to target CD19, a protein expressed on the surface of almost all B-cell leukemias and lymphomas. Estrella is also developing EB104, which also utilizes Eureka's ARTEMIS technology to target not only CD19, but also CD22, a protein that, like CD19, is expressed on the surface of most B-cell malignancies.

The $8 million capital infusion provides crucial resources for Estrella Immunopharma to continue developing its innovative T-cell therapies at a time when cancer immunotherapy represents one of the most promising areas of medical research. The company's focus on CD19 and CD22 targets addresses significant unmet medical needs in B-cell malignancies, which include various forms of leukemia and lymphoma. By targeting both CD19 and CD22 with EB104, Estrella aims to potentially overcome limitations of single-target therapies and reduce the likelihood of cancer cells developing resistance to treatment.

For investors and the biotechnology sector, this successful financing demonstrates continued interest in innovative cancer immunotherapy approaches despite challenging market conditions. The involvement of a healthcare-focused institutional investor suggests confidence in Estrella's technology platform and development strategy. The company's progress with its ARTEMIS T-cell therapy programs could have important implications for patients with B-cell malignancies who may not respond adequately to existing treatments. As Estrella advances EB103 and EB104 through clinical development, this funding supports the critical research needed to potentially bring new treatment options to patients with cancer and autoimmune diseases.