VBL Therapeutics Prices 2.5 Million Ordinary Share Offering
November 17 2017 - 9:00AM
VBL Therapeutics (Nasdaq:VBLT), a clinical-stage biotechnology
company focused on the discovery, development and commercialization
of first-in-class treatments for cancer, today announced the
pricing of its previously announced underwritten public offering of
2,500,000 ordinary shares for gross proceeds of $18,750,000, before
deducting the underwriting discounts and commissions and other
estimated offering expenses. The offering is subject to customary
closing conditions and is expected to close on or about November
21, 2017.
VBL Therapeutics intends to use the net proceeds from the
offering for the advancement of clinical programs, product
development, and for working capital and other general corporate
purposes.
Piper Jaffray & Co. is acting as the sole manager in this
offering.
A registration statement on Form F-3 (No. 333-207250) relating
to the ordinary shares was previously filed with the Securities and
Exchange Commission (the “SEC”) on October 2, 2015 and was declared
effective by the SEC on October 19, 2015. A prospectus supplement
relating to the offering will be filed with the SEC and will be
available on the SEC's website at http://www.sec.gov. Copies of the
prospectus supplement and related prospectus, when available, may
be obtained from: Piper Jaffray & Co., Attention: Prospectus
Department, 800 Nicole Mall, J12S03, Minneapolis, MN 55402, via
telephone at (800) 747-3924 or via email at prospectus@pjc.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Vascular Biogenics Ltd.Vascular Biogenics
Ltd., operating as VBL Therapeutics, is a clinical stage
biopharmaceutical company focused on the discovery, development and
commercialization of first-in-class treatments for cancer. The
Company’s lead oncology product candidate, ofranergene obadenovec
(VB-111), is a first-in-class, targeted anti-cancer gene-therapy
agent that is positioned to treat a wide range of solid tumors. It
is conveniently administered as an IV infusion once every two
months. It has been observed to be well-tolerated in >300 cancer
patients and we have observed its efficacy signals in an “all
comers” Phase 1 trial as well as in three tumor-specific Phase 2
studies. Ofranergene obadenovec is currently being studied in a
Phase 3 pivotal trial for recurrent Glioblastoma, conducted under
an FDA Special Protocol Assessment (SPA).
Forward Looking StatementsThis press release
contains forward-looking statements that are made pursuant to the
safe harbor provisions of the federal securities laws, including
statements regarding the therapeutic potential of, and clinical
development plan for, VB-111 and statements pertaining to our
expectations regarding the completion and anticipated proceeds of
the proposed public offering. These statements are based on
management's current expectations and accordingly are subject to
uncertainty and changes in circumstances. Actual results could
differ materially from those anticipated due to certain risks and
uncertainties including, without limitation, risks and
uncertainties related to fluctuations in our stock price, changes
in market conditions and satisfaction of customary closing
conditions related to the public offering. Any express or implied
statements contained in this press release that are not statements
of historical fact may be deemed to be forward-looking statements.
All statements other than statements of historical fact are
forward-looking statements, which are often indicated by terms such
as “anticipate,” “believe,” “could,” “estimate,” “expect,” “goal,”
“intend,” “look forward to,” “may,” “plan,” “potential,” “predict,”
“project,” “should,” “will,” “would” and similar expressions. These
forward-looking statements include, but are not limited to,
statements regarding the clinical development of ofranergene
obadenovec (VB-111) and its therapeutic potential, ongoing and
planned clinical trials and clinical results, including the timing
thereof, our other pipeline candidates, including the clinical
development and therapeutic potential of our VB-600 series of
pipeline candidates and Lecinoxoids in NASH, our new Modiin
facility and our cash position and financial outlook. These
forward-looking statements are not promises or guarantees and
involve substantial risks and uncertainties. Among the factors that
could cause actual results to differ materially from those
described or projected herein include uncertainties associated
generally with research and development, clinical trials and
related regulatory reviews and approvals, and the risk that
historical clinical trial results may not be predictive of future
trial results. In particular, results from our pivotal Phase 3
clinical trial of ofranergene obadenovec (VB-111) in rGBM may not
support approval of ofranergene obadenovec for marketing in the
United States, notwithstanding the positive results seen in prior
clinical experience. A further list and description of these risks,
uncertainties and other risks can be found in the Company’s
regulatory filings with the U.S. Securities and Exchange
Commission. Existing and prospective investors are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date hereof. VBL Therapeutics undertakes no
obligation to update or revise the information contained in this
press release, whether as a result of new information, future
events or circumstances or otherwise.
CONTACT:Michael Rice, Founding PartnerLifeSci
Advisors, LLC646-597-6979
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