Cytocom, Inc. Receives Commitments for $ 90 Million in Equity and Debt Financing



FORT COLLINS, Colorado., July 29, 2021 / PRNewswire / – Cytocom, Inc., (NASDAQ: CBLI), a leading biopharmaceutical company developing next-generation therapies focused on immune homeostasis, has entered into agreements for $ 90 million in committed capital. Funding is led by a $ 75 million equity commitment of GEM Global Yield LLC SCS in the form of a share subscription facility. Cytocom intends to withdraw the first $ 15 million within 30 days of closing the recently completed Cleveland BioLabs and Cytocom merger. A combination of debt and equity financing from Avenue Capital and Edit Ventures, totaling $ 17 million, will also be available on a raffle schedule. Cytocom will use the proceeds to fund operations, advance growth initiatives and continue clinical development of the company’s internal pipeline. Bridgeway Capital Partners and its affiliates served as exclusive financial advisor and placement agent in connection with the transaction, with Covington & Burling LLP providing legal advice.

With access to $ 90 million in working capital, subject to customary closing conditions for each drawdown, Cytocom will continue to develop an internal pipeline that includes the company’s platform of toll-type immune receptors. Cytocom’s current clinical programs for COVID-19, Crohn’s disease, pancreatic cancer and a growing portfolio of immunomodulatory therapies under development using Cytocom’s proprietary technology platform are designed to rebalance the body’s immune system and restore homeostasis.

“Having completed the merger between Cleveland BioLabs and Cytocom, this funding is a critical part of our growth strategy as a public company and should ensure that we have access to capital to continue to advance a cutting-edge clinical pipeline of therapies. immunomodulatory, “stated Michael k handley, President and CEO of Cytocom. “Our goal as a company is to become a recognized leader in immunomodulatory therapies targeting emerging viruses, including COVID-19, cancer, inflammation and autoimmune diseases. The successful fusion, coupled with the Acquisition of ImQuest Life Sciences and the previously announced Nasdaq should pave the way for multiple catalysts that we believe will serve to harness the power of our drug development technologies, generate shareholder value and to increase our visibility within the investor community. ”

“Avenue Capital is delighted to make this investment as we believe that Cytocom could play an important role in the development of the next generation of immunomodulatory therapies,” said Chad Norman, Senior Portfolio Manager for Avenue Venture Opportunities Fund. “There are few companies in the field of immunology with such an advanced and differentiated pipeline as Cytocom. In addition, we believe that the successful merger between Cleveland BioLabs and Cytocom and the acquisition of ImQuest Life Sciences will position the combined company for substantial growth in the years to come. “

About Cytocom
Cytocom, Inc. is a clinical-stage biopharmaceutical company developing novel immunotherapies targeting autoimmune, inflammatory, infectious diseases, and cancers based on a proprietary platform designed to rebalance the body’s immune system and restore l homeostasis. The company also has one of the largest toll-type immune receptor (TLR4, TLR5 and TLR9) platforms in the biopharmaceutical industry, addressing conditions such as radiation sickness and the side effects of cancer treatment. Cytocom is developing therapies designed to elicit a robust and long-lasting response of killer T cells and antigen-specific antibodies directly in patients, thereby activating essential immune defenses against autoimmune, inflammatory, infectious diseases and cancers. Specifically, Cytocom has several clinical-stage development programs for Crohn’s disease, fibromyalgia, multiple sclerosis, and pancreatic cancer. To learn more about Cytocom, Inc., please visit

Forward-looking statements:
This press release contains forward-looking statements that involve risks and uncertainties. All statements other than statements of current or historical fact contained in this press release, including statements regarding future financial condition, business strategy, new products, budgets, liquidity, cash flow, costs Projected decisions, regulatory approvals, the impact of any laws or regulations applicable to the Company, and management’s plans and objectives for future operations, are forward-looking statements. The words “anticipate”, “believe”, “continue”, “should”, “estimate”, “expect”, “intend”, “can”, “plan”, “plan”, ” “Will” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements on the current expectations regarding future events held by the management of both companies. While we believe these expectations are reasonable, these forward-looking statements are inherently subject to risks and uncertainties, many of which are beyond the control of either company. Actual future results of the Company may differ materially from those discussed here for various reasons. The Company discusses many of these risks under the heading “Risk Factors” in the Management Proxy Circular / Prospectus filed with the SEC, as updated by other documents filed by the Company with the SEC. Factors that may cause such differences include, but are not limited to, the outcome of legal proceedings initiated or likely to be initiated against the company under the merger agreement or the Merger; unforeseen costs, charges or expenses resulting from the Merger; our need for additional financing to achieve our business objectives; our history of operating losses; our ability to successfully develop, obtain regulatory approval and bring our products to market in a timely manner; our research, development and commercialization projects for our product candidates; our ability to attract employees with expertise in development, regulation and marketing; our plans and expectations for future clinical trials and large-scale commercial activities; our dependence on third party manufacturers of our product candidates; the size and growth potential of the markets for our product candidates, and our ability to serve those markets; the rate and degree of market acceptance of our product candidates; regulatory requirements and developments United States, the European Union and foreign countries; the performance of our third-party suppliers and manufacturers; the success of competing therapies that are or may become available; our ability to attract and retain key scientific or management personnel; our dependence on government funding for a significant portion of our operating costs and expenses; government procurement process and requirements; the exercise of significant influence over our company by our largest individual shareholder; the impact of the novel coronavirus (“COVID-19”) pandemic on our business, operations and clinical development; the geopolitical relationship between United States and the Russian Federation as well as the general business, legal, financial and other conditions in the Russian Federation; our ability to obtain and maintain intellectual property protection for our product candidates; our potential vulnerability to cybersecurity breaches; and other factors discussed in our documents with the SEC, including our annual report on Form 10-K for the year ended December 31, 2020and the risk factors discussed under the heading “Risk Factors” in the Management Proxy Circular / Prospectus that the Company has filed in connection with the Merger.

In view of these uncertainties, you should not place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We assume no obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect future events or developments.


Cytocom, Inc.
Nichol ochsner
Senior Vice President, Investor Relations and Corporate Communications
(732) 754-2545
[email protected]

Tiberend Strategic Advisors, Inc.
Maureen McEnroe, CFA (Investors)
(212) 375-2664
[email protected]

Johanna bennett (Media)
(212) 375-2686
[email protected]

SOURCE Cytocom, Inc.

Related links

Source link


About Author

Comments are closed.