TEL AVIV, Israel, Sept. 30, 2014 (GLOBE NEWSWIRE) -- VBL Therapeutics, a clinical-stage biotechnology company committed to the discovery, development and commercialization of first-in-class treatments for cancer and immune-inflammatory diseases, today announced the pricing of its initial public offering of 6,666,667 of its ordinary shares at a public offering price of $6.00 per share, before underwriting discounts and commissions. In addition, VBL Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 1,000,000 ordinary shares at the same price, less underwriting discounts and commissions, to cover over-allotments, if any. The shares are scheduled to begin trading on the NASDAQ Global Market on October 1, 2014 under the ticker symbol “VBLT.” The offering is expected to close on October 6, 2014, subject to customary closing conditions.
Deutsche Bank Securities is acting as book-running manager for the offering. JMP Securities and Oppenheimer & Co. are acting as co-managers.
A registration statement relating to these securities has been filed with and was declared effective by the Securities and Exchange Commission on September 30, 2014. The offering is being made only by means of a prospectus, copies of which may be obtained when available from Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, New York 10005-2836, or by calling (800) 503-4611 or emailing a request to prospectus.cpdg@db.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction.
About VBL:
Vascular Biogenics Ltd., operating as VBL Therapeutics, is a clinical-stage biopharmaceutical company committed to the discovery, development and commercialization of first-in-class treatments for cancer and immune-inflammatory diseases. VBL Therapeutics’ clinical pipeline is based on two distinct, proprietary platform technologies—an oncology program and an anti-inflammatory program—that leverage the body’s natural physiologic and genetic regulatory elements. The Company’s lead oncology product candidate, VB-111, is a gene-based biologic that is initially being developed for recurrent glioblastoma, or rGBM, an aggressive form of brain cancer. VB-111 has received orphan drug designation in both the United States and Europe and was granted Fast Track designation by the FDA for prolongation of survival in patients with glioblastoma that has recurred following treatment with standard chemotherapy and radiation. VBL Therapeutics expects to begin the single needed Phase 3 pivotal trial for VB-111 in rGBM in the first half of 2015 under a SPA whose design and planned analysis the FDA concurred with. VBL Therapeutics’ lead product candidate from its anti-inflammatory program, VB-201, is an oral small molecule currently being evaluated in Phase 2 clinical trials for psoriasis and for ulcerative colitis, with top-line results expected in the first quarter of 2015.
CONTACT: Paul Cox, Stern Investor Relations (212) 362 1200, paul@sternir.com
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