VTVT - vTv Therapeutics raises $47M via stock purchase agreement

vTv Therapeutics (VTVT) inked a common stock purchase agreement for up to $47M with Chicago-based institutional investor Lincoln Park Capital Fund; optionality to sell the shares over a 3-year period.Net proceeds from the transaction to be used for general corporate purposes and to support clinical development strategy."The LPC financing will help us reach a number of potential value-driving events over the next six to nine months, including the upcoming topline results of our phase 2 Elevage Study in patients with Alzheimer’s disease and type 2 diabetes in December. In addition, these funds will help us conduct a mechanistic study of TTP399, our oral treatment for patients with type 1 diabetes focused on its impact on diabetic ketoacidosis, and additionally a multiple-ascending dose study of HPP737 as a potential oral treatment for psoriasis," president & CEO Steve Holcombe commented.

For further details see:

vTv Therapeutics raises $47M via stock purchase agreement