Full Press Release Details
Announces $2.02 Million Private Placement to Advance Development Programs
N.J. / ACCESSWIRE / December 6, 2024 - Tharimmune, Inc. (Nasdaq: THAR) ("Tharimmune" or the "Company"),
a clinical-stage biotechnology company committed to pioneering therapies in immunology and inflammation, today announced it has entered
into a securities purchase agreement to raise gross proceeds of approximately $2.02 million through a private placement.
agreement includes the issuance of 961,446 shares of common stock (or common stock equivalents) and warrants to purchase up to an additional
480,723 shares of common stock. Each share (or common stock equivalent) is priced at $2.10 and is accompanied by a warrant. The warrants
will have an exercise price of $2.031 per share, becoming exercisable six months after issuance and expiring five and one-half years
from the date of issuance. The closing of this transaction is expected on or about December 9, 2024, subject to customary closing conditions.
Investors and Placement Details
financing was led by Gravitas Capital and SDS Capital Group, alongside other biotechnology-focused private investors. President Street
Global served as the exclusive placement agent for the offering, ensuring seamless execution of the transaction.
deducting placement agent fees and other offering-related expenses, the Company intends to allocate the net proceeds toward clinical
development, including advancing its flagship TH104 development program, as well as general working capital.
Innovation in Biotechnology
financing reinforces Tharimmune's commitment to advancing its portfolio of therapeutic candidates. TH104, the Company's lead
clinical asset, is designed to address chronic pruritus associated with primary biliary cholangitis (PBC), a rare and challenging autoimmune
securities in this private placement were offered under Section 4(a)(2) of the Securities Act of 1933, as amended, and Regulation D thereunder.
The shares of common stock and underlying warrants are not registered under the Securities Act or state securities laws. The Company
has agreed to file a resale registration statement covering these securities to enable their future trading upon registration or qualification
under applicable laws.
Inc. is a clinical-stage biotechnology company focused on developing innovative therapies in immunology, inflammation, and oncology.
The Company's lead product candidate, TH104, leverages a unique transdermal buccal film technology designed to address inflammatory
conditions, including pruritus associated with PBC. Tharimmune is also advancing TH023, an oral TNF-alpha inhibitor, and exploring novel
multi-specific biologics targeting solid tumors. Through a licensing agreement with OmniAb, Inc., the Company harnesses cutting-edge
antibody discovery platforms to target specified disease markers. Learn more at www.tharimmune.com.
statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical facts, contained in this press release, including statements regarding the timing and
design of Tharimmune's future Phase 2 trial, Tharimmune's strategy, future operations, future financial position, projected
costs, prospects, plans and objectives of management, are forward-looking statements. The words "anticipate," "believe,"
"continue," "could," "depends," "estimate," "expect," "intend,"
"may," "ongoing," "plan," "potential," "predict," "project,"
"target," "should," "will," "would," and similar expressions are intended to identify
forward-looking statements, although not all forward-looking statements contain these identifying words. The Company may not actually
achieve the plans, intentions, or expectations disclosed in these forward-looking statements, and you should not place undue reliance
on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed
in these forward-looking statements. Factors that may cause such differences, include, but are not limited to, those discussed under
Risk Factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2023 and other periodic reports filed by the
Company from time to time with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press
release represent the Company's views as of the date of this release. Subsequent events and developments may cause the Company's
views to change; however, the Company does not undertake and specifically disclaims any obligation to update or revise any forward-looking
statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as
may be required by applicable law. These forward-looking statements should not be relied upon as representing the Company's views
as of any date subsequent to the date of this release.