Biosimilar Developer Coherus Secures $150 Million in Private Placement

September 1, 2017: By Joan McKenna

coherus_biosciences_ogCoherus BioSciences announced Aug. 21 that it has secured $150 million in funding from Singapore-based investment firm Temasek in a two-tranche private placement.

Coherus, of Redwood City, California, said it will use the proceeds to advance biosimilar candidates for Neulasta, Humira, and Lucentis.

The first tranche of $75 million was to be funded by Aug. 31, with Coherus issuing 6.6 million shares of common stock at a price of $11.44 per share. The second tranche will be funded following receipt of US FDA approval for the Neulasta candidate, the company said.

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