Azitra Announces Share Purchase Agreement for up to $20 Million in Partnership with Alumni Capital to Fund Clinical Pipeline
Azitra (NYSE American: AZTR) has entered into a share purchase agreement with Alumni Capital LP for up to $20 million in funding over a 20-month period. The agreement allows Azitra to sell common stock and warrants to Alumni Capital at market-based prices, with Azitra maintaining full control over the timing and amount of sales.
The funding will support Azitra's clinical pipeline development of live biotherapeutic precision products for rare and severe dermatologic conditions, specifically focusing on Netherton Syndrome and EGFRi associated rash, which affects approximately 150,000 people in the U.S. The company aims to minimize dilution while maintaining shareholder value through this flexible funding arrangement.
Azitra (NYSE American: AZTR) ha stipulato un accordo di acquisto di azioni con Alumni Capital LP per un finanziamento fino a 20 milioni di dollari nell'arco di 20 mesi. L'accordo consente ad Azitra di vendere azioni ordinarie e warrant ad Alumni Capital a prezzi di mercato, mantenendo pieno controllo sui tempi e sulla quantità delle vendite.
Il finanziamento sosterrà lo sviluppo della pipeline clinica di Azitra, focalizzata su prodotti bioterapeutici vivi di precisione per condizioni dermatologiche rare e gravi, con particolare attenzione alla Sindrome di Netherton e alla eruzione cutanea associata a EGFRi, che colpisce circa 150.000 persone negli Stati Uniti. L'azienda mira a minimizzare la diluizione mantenendo il valore per gli azionisti grazie a questo accordo di finanziamento flessibile.
Azitra (NYSE American: AZTR) ha firmado un acuerdo de compra de acciones con Alumni Capital LP para obtener hasta 20 millones de dólares en financiamiento durante un período de 20 meses. El acuerdo permite a Azitra vender acciones comunes y warrants a Alumni Capital a precios de mercado, manteniendo Azitra el control total sobre el momento y la cantidad de las ventas.
El financiamiento apoyará el desarrollo de la cartera clínica de Azitra de productos bioterapéuticos vivos de precisión para condiciones dermatológicas raras y severas, enfocándose específicamente en el Síndrome de Netherton y la erupción asociada a EGFRi, que afecta aproximadamente a 150,000 personas en EE. UU. La compañía busca minimizar la dilución manteniendo el valor para los accionistas mediante este acuerdo de financiamiento flexible.
Azitra (NYSE American: AZTR)는 Alumni Capital LP와 최대 2,000만 달러 규모의 자금 조달을 위한 주식 매매 계약을 20개월 기간 동안 체결했습니다. 이 계약을 통해 Azitra는 시장 가격에 따라 Alumni Capital에 보통주와 워런트를 판매할 수 있으며, 판매 시기와 규모를 전적으로 통제할 수 있습니다.
이번 자금은 희귀하고 중증 피부 질환을 위한 생체 치료제 정밀 제품 개발을 지원하며, 특히 미국에서 약 15만 명이 영향을 받는 네스턴 증후군과 EGFRi 관련 발진에 중점을 둡니다. 회사는 이 유연한 자금 조달 방식을 통해 주주 가치를 유지하면서 희석을 최소화하는 것을 목표로 합니다.
Azitra (NYSE American : AZTR) a conclu un accord d'achat d'actions avec Alumni Capital LP pour un financement pouvant atteindre 20 millions de dollars sur une période de 20 mois. Cet accord permet à Azitra de vendre des actions ordinaires et des bons de souscription à Alumni Capital à des prix basés sur le marché, tout en conservant un contrôle total sur le moment et le volume des ventes.
Ce financement soutiendra le développement de la pipeline clinique d'Azitra, axée sur des produits biothérapeutiques vivants de précision pour des affections dermatologiques rares et sévères, en se concentrant spécifiquement sur le Syndrome de Netherton et l'éruption cutanée associée aux EGFRi, qui touche environ 150 000 personnes aux États-Unis. L'entreprise vise à minimiser la dilution tout en maintenant la valeur pour les actionnaires grâce à cet arrangement de financement flexible.
Azitra (NYSE American: AZTR) hat eine Aktienkaufvereinbarung mit Alumni Capital LP über bis zu 20 Millionen US-Dollar Finanzierung über einen Zeitraum von 20 Monaten abgeschlossen. Die Vereinbarung erlaubt es Azitra, Stammaktien und Bezugsrechte zu marktüblichen Preisen an Alumni Capital zu verkaufen, wobei Azitra die volle Kontrolle über den Zeitpunkt und die Menge der Verkäufe behält.
Die Finanzierung wird die Entwicklung der klinischen Pipeline von Azitra für präzise lebende biotherapeutische Produkte bei seltenen und schweren dermatologischen Erkrankungen unterstützen, mit besonderem Fokus auf das Netherton-Syndrom und den EGFRi-assoziierten Hautausschlag, der etwa 150.000 Menschen in den USA betrifft. Das Unternehmen strebt an, die Verwässerung zu minimieren und gleichzeitig den Aktionärswert durch diese flexible Finanzierungsvereinbarung zu erhalten.
- Secured flexible funding of up to $20 million
- Company maintains full control over timing and amount of stock sales
- No immediate dilution - strategic approach to funding
- Targeting substantial market of 150,000 patients with EGFRi associated rash
- Potential future dilution through stock and warrant issuance
- Warrant exercise subject to shareholder approval
- Additional registration requirements for resale of shares
Insights
Azitra secures flexible $20M funding vehicle to advance rare skin disease therapies while maintaining control over dilution timing.
Azitra's $20 million share purchase agreement with Alumni Capital represents a significant financial development for this microcap company. With a current market capitalization of only
The structure offers two key advantages over traditional financing options. First, Azitra maintains complete discretion over the timing and amount of capital raised, allowing management to strategically access funds based on clinical development needs rather than being forced into immediate dilution. Second, the 20-month duration provides extended financial flexibility during a critical development period.
However, investors should understand this represents potential significant dilution if fully utilized. At the current
The pricing mechanism - based on market price at time of sale - means no premium is being paid by Alumni Capital, though this is standard for this type of financing vehicle. This agreement effectively functions as a committed at-the-market offering, providing certainty of buyer access while minimizing market disruption from large block sales. For a clinical-stage biotech with revenue, securing this funding pathway represents a crucial operational achievement.
Funding agreement provides critical capital flexibility for Azitra's rare skin disease pipeline, targeting 150,000+ potential patients.
This financing structure directly addresses a critical challenge faced by clinical-stage biopharmaceutical companies - maintaining development momentum while minimizing shareholder dilution. For Azitra's pipeline targeting Netherton Syndrome (a rare skin disorder) and EGFRi-associated rash (affecting approximately 150,000 people in the U.S.), consistent capital access is essential.
The agreement's value becomes apparent when examining Azitra's strategic position. As a precision dermatology company developing live biotherapeutic products delivered topically, they operate in a specialized niche with competition but requiring rigorous clinical validation. This funding pathway enables them to reach critical clinical milestones that could potentially validate their therapeutic approach.
Of particular importance is the company's explicit focus on using this facility to be "judicious" about equity sales. This suggests management is acutely aware of dilution concerns and intends to draw capital strategically, likely coinciding with positive clinical data points that could support higher valuations.
The target indication of EGFRi rash represents a meaningful commercial opportunity. This condition affects cancer patients receiving EGFR inhibitor therapy, causing painful, itchy rashes that often lead to treatment interruption or discontinuation. A successful therapy could improve cancer treatment adherence while generating substantial revenue. The flexible funding structure positions Azitra to maximize value creation through disciplined capital deployment.
As Azitra works towards key clinical milestones, the Company anticipates the SPA will allow the Company to minimize dilution while creating and sustaining shareholder value, enabling Azitra to be judicious and plan for the timing and amount of any equity sales, which will be critical as it strategically develops its pipeline focused on Netherton Syndrome, a rare skin disorder and EGFRi associated rash, which impacts approximately 150,000 people in the
Under the terms of the agreement, Azitra has the right to sell, and Alumni has the obligation to purchase up to
The issuance of the shares of common stock to Alumni is being made pursuant to exemptions from the registration requirements of the federal and state securities laws. Pursuant to the SPA, the Company must register Alumni's resale of the shares of the Company's common stock purchased. The exercise of the warrants will be subject to shareholder approval.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, 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 Azitra, Inc.
Azitra, Inc. is a clinical stage biopharmaceutical company focused on developing innovative therapies for precision dermatology. The Company's lead program, ATR-12, uses an engineered strain of S. epidermidis designed to treat Netherton syndrome, a rare, chronic skin disease with no approved treatment options. Netherton syndrome may be fatal in infancy with those living beyond a year having profound lifelong challenges. The ATR-12 program includes a Phase 1b clinical trial in adult Netherton syndrome patients. ATR-04, Azitra's additional advanced program, ATR-04, utilizes another engineered strain of S. epidermidis for the treatment of EGFR inhibitor ("EGFRi") associated rash. Azitra has received Fast Track designation from the FDA for EGFRi associated rash, which impacts approximately 150,000 people in the
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements regarding the expected timing of the abstract detailing the Phase 1/2 clinical trial for our ATR-04 program, the initiation of dosing in the Phase 1/2 clinical trial for our ATR-04 program, and statements about our clinical and preclinical programs, and corporate and clinical/preclinical strategies.
Any forward-looking statements in this press release are based on current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to that, we may not satisfy the conditions required in the SPA to sell shares to Alumni, we may not successfully sell any shares of common stock to Alumni, we may fail to successfully complete our Phase 1b trial for ATR-12 program; we may experience delays in the dosing of our first patient in our Phase 1/2 trial for our ATR-04 program; our product candidates may not be effective; there may be delays in regulatory approval or changes in regulatory framework that are out of our control; our estimation of addressable markets of our product candidates may be inaccurate; we may fail to timely raise additional required funding; more efficient competitors or more effective competing treatment may emerge; we may be involved in disputes surrounding the use of our intellectual property crucial to our success; we may not be able to attract and retain key employees and qualified personnel; earlier study results may not be predictive of later stage study outcomes; and we are dependent on third-parties for some or all aspects of our product manufacturing, research and preclinical and clinical testing. Additional risks concerning Azitra's programs and operations are described or incorporated by reference in our annual report on Form 10-K filed with the SEC on February 24, 2025. Azitra explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.
Contact
Norman Staskey
Chief Financial Officer
staskey@azitrainc.com
Investor Relations
Tiberend Strategic Advisors, Inc.
Jon Nugent
205-566-3026
jnugent@tiberend.com
Media Relations
Tiberend Strategic Advisors, Inc.
Casey McDonald
646-577-8520
cmcdonald@tiberend.com
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SOURCE Azitra, Inc.
FAQ
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