Akari Therapeutics and Peak Bio have announced a portfolio prioritization plan for their combined merger entity, focusing on Peak's ADC cancer therapeutic platform technology and Akari's PAS-nomacopan for Geographic Atrophy. The prioritization aims to secure business development opportunities and funding while advancing these critical programs.
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Peark Bio, Inc. (NASDAQ: PKBO) has signed a Common Stock Purchase Agreement with White Lion Capital to access up to $100 million in common stock over the next 36 months. These funds will be used for working capital to support clinical and preclinical programs. COO Stephen LaMond highlighted the agreement as a sign of investor confidence. Peak Bio is focusing on therapeutics for oncology and inflammatory diseases, with their lead candidate, PHP-303, expected to enter Phase II trials by the end of 2023.