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Marker Therapeutics Announces $16.1 Million Private Placement

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Marker Therapeutics (MRKR) has secured a $16.1 million private placement through the sale of 5,031,250 shares of common stock and accompanying warrants. The financing, priced at $3.20 per share, includes participation from Blue Owl Healthcare Opportunities, NEA, and Aisling Capital.

The proceeds will primarily support the clinical advancement of the company's Phase 1 APOLLO study investigating MT-601, a multi-antigen recognizing T cell product, in lymphoma patients who have relapsed after anti-CD19 CAR-T cell therapy or where such therapy isn't an option.

The warrants will be exercisable upon shareholder approval with a five-year term and an exercise price of $4.03 per share. Canaccord Genuity leads the placement with Brookline Capital Markets as co-placement agent.

Marker Therapeutics (MRKR) ha ottenuto un collocamento privato di 16,1 milioni di dollari attraverso la vendita di 5.031.250 azioni ordinarie e relativi warrants. Il finanziamento, con un prezzo di 3,20 dollari per azione, ha visto la partecipazione di Blue Owl Healthcare Opportunities, NEA e Aisling Capital.

I proventi supporteranno principalmente l'avanzamento clinico dello studio APOLLO di Fase 1 che indaga MT-601, un prodotto a base di cellule T che riconosce più antigeni, nei pazienti affetti da linfoma che sono recidivati dopo la terapia con cellule T CAR anti-CD19 o per i quali tale terapia non è un'opzione.

I warrants saranno esercitabili previa approvazione degli azionisti con un termine di cinque anni e un prezzo di esercizio di 4,03 dollari per azione. Canaccord Genuity guida il collocamento con Brookline Capital Markets in qualità di co-agente di collocamento.

Marker Therapeutics (MRKR) ha asegurado un colocación privada de 16,1 millones de dólares mediante la venta de 5.031.250 acciones ordinarias y warrants asociados. La financiación, con un precio de 3,20 dólares por acción, incluye la participación de Blue Owl Healthcare Opportunities, NEA y Aisling Capital.

Los ingresos apoyarán principalmente el avance clínico del estudio APOLLO de Fase 1 que investiga MT-601, un producto de células T que reconoce múltiples antígenos, en pacientes con linfoma que han recaído después de la terapia con células T CAR anti-CD19 o en aquellos donde dicha terapia no es una opción.

Los warrants serán ejercitables previa aprobación de los accionistas con un plazo de cinco años y un precio de ejercicio de 4,03 dólares por acción. Canaccord Genuity lidera la colocación con Brookline Capital Markets como co-agente de colocación.

Marker Therapeutics (MRKR)을 통해 5,031,250주를 판매하고 관련 워런트를 확보했습니다. 주당 3.20달러의 가격으로 이루어진 이 자금 조달에는 Blue Owl Healthcare Opportunities, NEA 및 Aisling Capital이 참여했습니다.

이 수익금은 1상 APOLLO 연구의 임상 개발을 지원하기 위해 주로 사용되며, 이는 재발한 림프종 환자에게 다항원 인식 T세포 제품인 MT-601을 조사합니다. 이러한 환자들은 항-CD19 CAR-T세포 요법을 받은 후 재발했거나 해당 요법이 옵션이 아닙니다.

워런트는 주주 승인 후 5년 기간 동안 행사 가능하며, 행사 가격은 주당 4.03달러입니다. Canaccord Genuity가 배정을 주도하고 Brookline Capital Markets가 공동 배정 대리인으로 참여합니다.

Marker Therapeutics (MRKR) a obtenu un placement privé de 16,1 millions de dollars par la vente de 5.031.250 actions ordinaires et warrants associés. Le financement, fixé à 3,20 dollars par action, inclut la participation de Blue Owl Healthcare Opportunities, de NEA et d'Aisling Capital.

Les produits serviront principalement à soutenir l'avancement clinique de l'étude APOLLO de Phase 1 qui examine MT-601, un produit à cellules T reconnaissant plusieurs antigènes, chez des patients atteints de lymphome qui ont rechuté après une thérapie par cellules T CAR anti-CD19 ou lorsque cette thérapie n'est pas une option.

Les warrants pourront être exercés après approbation des actionnaires, avec une durée de cinq ans et un prix d'exercice de 4,03 dollars par action. Canaccord Genuity est à la tête du placement, avec Brookline Capital Markets comme co-agent de placement.

Marker Therapeutics (MRKR) hat eine private Platzierung in Höhe von 16,1 Millionen Dollar durch den Verkauf von 5.031.250 Stammaktien und zugehörigen Warrants sichergestellt. Die Finanzierung, die mit 3,20 Dollar pro Aktie bewertet wurde, umfasst die Teilnahme von Blue Owl Healthcare Opportunities, NEA und Aisling Capital.

Die Erlöse unterstützen hauptsächlich den klinischen Fortschritt der Phase 1 APOLLO-Studie, die MT-601 untersucht, ein T-Zell-Produkt, das mehrere Antigene erkennt, bei Lymphom-Patienten, die nach einer anti-CD19 CAR-T-Zelltherapie rezidiviert haben oder für die eine solche Therapie keine Option ist.

Die Warrants können nach Genehmigung durch die Aktionäre mit einer Laufzeit von fünf Jahren und einem Ausübungspreis von 4,03 Dollar pro Aktie ausgeübt werden. Canaccord Genuity führt die Platzierung an, während Brookline Capital Markets als Co-Placement-Agent agiert.

Positive
  • Secured $16.1 million in new funding through private placement
  • Strategic investment from notable healthcare investors including Blue Owl, NEA, and Aisling Capital
  • Warrants priced at $4.03, representing 26% premium to offering price
Negative
  • Potential dilution for existing shareholders through issuance of 5,031,250 new shares
  • Additional dilution possible through exercise of warrants for 5,031,250 shares
  • Financing requires shareholder approval

Insights

This $16.1 million private placement represents a significant capital injection for Marker Therapeutics, effectively extending their operational runway. The deal structure at $3.20 per share with accompanying warrants at $4.03 shows a 26% potential upside built into the warrant pricing, indicating investor confidence in future value appreciation. The participation of blue-chip healthcare investors like Blue Owl Healthcare Opportunities, NEA and Aisling Capital adds credibility to the financing round and suggests strong institutional backing for MT-601's development.

With a market cap of approximately $36 million, this financing represents nearly 45% of the company's current market value. The inclusion of pre-funded warrants provides immediate access to capital while potentially minimizing immediate dilution. The five-year warrant term offers a substantial window for value creation through clinical development milestones.

The funding primarily supports the APOLLO study of MT-601, which addresses a critical unmet need in lymphoma patients who have failed anti-CD19 CAR-T therapy. The multi-antigen recognizing (MAR) T cell approach represents an innovative strategy that could potentially overcome the limitations of single-target CAR-T therapies. The backing from specialized healthcare investors validates the scientific merit of Marker's platform technology.

In simpler terms, imagine current CAR-T therapy as a key that fits only one lock on cancer cells. MT-601 is designed to recognize multiple "locks," potentially making it harder for cancer cells to escape treatment. This could be particularly valuable for patients who have exhausted standard treatment options, including conventional CAR-T therapy.

Strategic financing supports clinical advancement in Phase 1 APOLLO study investigating MT-601 in patients with lymphoma who relapsed after anti-CD19 CAR-T cells

HOUSTON, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Marker Therapeutics, Inc. (Nasdaq: MRKR), a clinical-stage immuno-oncology company focusing on developing next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumor indications, today announced it has entered into a securities purchase agreement for a private placement resulting in gross proceeds of $16.1 million, before deducting placement agent fees and other expenses.

Proceeds from the financing will, among other uses, support the clinical advancement of the Company’s Phase 1 APOLLO study investigating MT-601, a multi-antigen recognizing (MAR) T cell product (formerly known as multiTAA-specific T cells), in patients with lymphoma who have relapsed after anti-CD19 chimeric antigen receptor (CAR)-T cell therapy or where anti-CD19 CAR-T cells are not an option.

The financing included participation from new and existing investors including Blue Owl Healthcare Opportunities, New Enterprise Associates (NEA) and Aisling Capital, and will support the collection of additional clinical data to advance Marker’s lead clinical asset in lymphoma.

Marker is selling 5,031,250 shares of its common stock (or pre-funded warrants in lieu thereof) and accompanying warrants to purchase up to 5,031,250 shares of common stock, at a purchase price of $3.20 per share (or $3.199 per pre-funded warrant in lieu thereof) and accompanying warrant.

The pre-funded warrants and the accompanying warrants will be exercisable upon shareholder approval and have a term of five years commencing upon shareholder approval. The pre-funded warrants will be exercisable at a price of $0.001 per share and the accompanying warrants will have an exercise price of $4.03 per share.

Canaccord Genuity is acting as lead placement agent and Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as co-placement agent.

The securities being sold in this private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. Marker has agreed to file a registration statement with the Securities and Exchange commission (SEC) registering the resale of the shares of common stock and shares of common stock issuable upon exercise of the pre-funded warrants and accompanying warrants.

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 offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About MT-601
The Company’s lead product, MT-601, is a multi-antigen recognizing (MAR) T cell product that utilizes a non-genetically modified approach that specifically targets six different tumor antigens upregulated in lymphoma cells (Survivin, PRAME, WT-1, NY-ESO-1, SSX-2, MAGEA-4). Marker is currently investigating MT-601 in the Company-sponsored Phase 1 APOLLO trial (clinicaltrials.gov identifier: NCT05798897) for the treatment of patients with lymphoma who relapsed after or are ineligible for anti-CD19 CAR-T cell therapies.

About APOLLO
The APOLLO trial (clinicaltrials.gov Identifier: NCT05798897) is a Phase 1, multicenter, open-label study designed to evaluate the safety and efficacy of MT-601 in participants with relapsed or refractory lymphoma who either failed anti-CD19 chimeric antigen receptor (CAR) T cell therapy or are ineligible for anti-CD19 CAR-T cell therapy. The primary objective of this exploratory Phase 1 clinical trial is to evaluate the optimum dose, safety, and preliminary efficacy of MT-601 in participants with various lymphoma subtypes. Under the APOLLO trial, it is anticipated that nine clinical sites across the United States will cumulatively enroll up to approximately 30 participants during the dose escalation phase.

About MAR-T cells
The multi-antigen recognizing (MAR) T cell platform (formerly known as multiTAA-specific T cells) is a novel, non-genetically modified cell therapy approach that selectively expands tumor-specific T cells from a patient's/donor’s blood capable of recognizing a broad range of tumor antigens. Unlike other T cell therapies, MAR-T cells allow the recognition of hundreds of different epitopes within up to six tumor-specific antigens, thereby reducing the possibility of tumor escape. Since MAR-T cells are not genetically engineered, Marker believes that its product candidates will be easier and less expensive to manufacture, with an improved safety profile compared to current engineered T cell approaches, and may provide patients with meaningful clinical benefits.

About Marker Therapeutics, Inc.
Marker Therapeutics, Inc. is a Houston, TX-based clinical-stage immuno-oncology company specializing in the development of next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumors. The Company was founded at Baylor College of Medicine, and clinical trials that enrolled more than 200 patients across various hematological and solid tumor indications showed that the Company’s autologous and allogeneic MAR-T cell products were well tolerated and demonstrated durable clinical responses. Marker’s goal is to introduce novel T cell therapies to the market and improve patient outcomes. To achieve these objectives, the Company prioritizes the preservation of financial resources and focuses on operational excellence. Marker’s unique T cell platform is strengthened by non-dilutive funding from U.S. state and federal agencies supporting cancer research.

To receive future press releases via email, please visit: https://www.markertherapeutics.com/email-alerts.

Forward-Looking Statements
This release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release concerning the Company’s expectations, plans, business outlook or future performance, and any other statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are “forward-looking statements.” Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: our research, development and regulatory activities and expectations relating to our non-engineered multi-tumor antigen specific T cell therapies; the effectiveness of these programs or the possible range of application and potential curative effects and safety in the treatment of diseases; the timing, conduct, interim results announcements and outcomes of our clinical trials of our product candidates, including MT-601 for the treatment of patients with lymphoma. Forward-looking statements are by their nature subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company’s most recent Form 10-K, 10-Q and other SEC filings which are available through EDGAR at WWW.SEC.GOV. The Company assumes no obligation to update its forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release except as may be required by law.

Contacts
Investors
TIBEREND STRATEGIC ADVISORS, INC.
Jonathan Nugent
205-566-3026
jnugent@tiberend.com


FAQ

How much did Marker Therapeutics (MRKR) raise in its December 2024 private placement?

Marker Therapeutics raised $16.1 million in gross proceeds through a private placement of common stock and warrants.

What is the purpose of MRKR's $16.1 million private placement funding?

The funding will primarily support the clinical advancement of the Phase 1 APOLLO study investigating MT-601 in lymphoma patients who relapsed after anti-CD19 CAR-T cell therapy.

What is the exercise price of the warrants issued in MRKR's December 2024 private placement?

The accompanying warrants have an exercise price of $4.03 per share with a five-year term, exercisable upon shareholder approval.

Who are the key investors in Marker Therapeutics' December 2024 private placement?

Key investors include Blue Owl Healthcare Opportunities, New Enterprise Associates (NEA), and Aisling Capital.

How many shares did MRKR sell in the December 2024 private placement?

MRKR sold 5,031,250 shares of common stock (or pre-funded warrants) with accompanying warrants to purchase up to 5,031,250 additional shares.

Marker Therapeutics, Inc.

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