Serina Therapeutics Secures $10 Million Financing to Continue Advancing Lead IND Candidate into Phase 1 Clinical Trial in Advanced Parkinson's Disease Patients

Rhea-AI Summary

Serina Therapeutics (NYSE American: SER) has secured a $10 million equity financing from JuvVentures (UK) to advance SER-252 (POZ-apomorphine) into Phase 1 clinical trials for advanced Parkinson's disease patients in H2 2025. The financing involves issuing one million shares at $10 per share, representing a 120% premium to the November 26 closing price. The funding will be delivered in two $5 million tranches, with the first received on November 27, 2024, and the second due by January 31, 2025.

Positive

• Secured $10 million equity financing
• Shares priced at 120% premium to market price
• Strategic investment from existing shareholder
• Funding secured for Phase 1 clinical trial advancement

Negative

• Share dilution through issuance of 1 million new shares

Insights

Financial Analyst

This $10 million equity financing at a substantial 120% premium represents a significant vote of confidence in Serina's technology and pipeline. The premium pricing suggests strong institutional belief in the company's potential, particularly noteworthy for a small-cap biotech with $47M market capitalization. The structured two-tranche delivery provides near-term capital stability while maintaining financial discipline.

The strategic investment from JuvVentures strengthens Serina's balance sheet and provides runway through key clinical milestones. The financing structure, with $5 million already received and another $5 million committed, reduces dilution risk while securing necessary capital for the planned Phase 1 trial. The premium pricing could also set a new valuation benchmark for future capital raises.

Medical Research Analyst

SER-252's advancement into clinical trials represents a potentially significant development in Parkinson's disease treatment. The POZ Platform's drug optimization technology applied to apomorphine could address key limitations of current treatments for advanced Parkinson's patients. The timing of the Phase 1 trial initiation in H2 2025 provides a clear development timeline and catalyst for the company.

The strategic investment specifically supporting clinical development suggests confidence in the preclinical data package. Apomorphine's established efficacy profile, combined with Serina's proprietary delivery technology, could offer meaningful advantages over existing therapies if successful in clinical trials.

HUNTSVILLE, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Serina Therapeutics, Inc. (“Serina”) (NYSE American: SER), a clinical-stage biotechnology company, today announced a $10 million equity financing with strategic shareholder JuvVentures (UK) Limited. The transaction provides Serina with funding to continue advancing SER-252 (POZ-apomorphine), enabled by its proprietary POZ Platform^™ drug optimization technology, into a Phase 1 clinical trial in advanced Parkinson's disease patients in the second half of 2025.

Under the terms of the funding agreement, Serina will issue one million shares of common stock at $10 per share, a 120% premium to the closing price on November 26, 2024. The financing will be delivered in two tranches: the first $5.0 million tranche was received November 27, 2024, and the second $5.0 million tranche by January 31, 2025. Serina filed a Form 8-K with the SEC on December 2, 2024 that provides additional information regarding this transaction.

About SER-252 (POZ-apomorphine)

SER 252 is an investigational apomorphine therapy developed with Serina’s POZ platform and designed to provide continuous dopaminergic stimulation (CDS). CDS has been shown to reduce the severity of levodopa-related motor complications (dyskinesia) and enable greater on time, with reduced off time, in advanced Parkinson’s patients. SER-252 leverages strategic partner Enable Injections’ enFuse^™ wearable drug delivery platform to enhance patient comfort and convenience, providing CDS to patients via an easy-to-administer, long-acting subcutaneous injection without skin reactions.

About the POZ Platform^™

Serina’s proprietary POZ technology is based on a synthetic, water soluble, low viscosity polymer called poly(2-oxazoline). Serina’s POZ technology is engineered to provide greater control in drug loading and more precision in the rate of release of attached drugs delivered via subcutaneous injection. The therapeutic agents in Serina’s product candidates are typically well-understood and marketed drugs that are effective but are limited by pharmacokinetic profiles that can include toxicity, side effects and short half-life. Serina believes that by using POZ technology, drugs with narrow therapeutic windows can be designed to maintain more desirable and stable levels in the blood.

Serina’s POZ platform delivery technology has potential for use across a broad range of payloads and indications. Serina intends to advance additional applications of the POZ platform via out-licensing, co-development, or other partnership arrangements, including the non-exclusive license agreement with Pfizer, Inc. to use Serina’s POZ polymer technology for use in lipid nanoparticle drug (LNP) delivery formulations.

About Serina Therapeutics

Serina is a clinical-stage biotechnology company developing a pipeline of wholly owned drug product candidates to treat neurological diseases and other indications. Serina’s POZ Platform^TM provides the potential to improve the integrated efficacy and safety profile of multiple modalities including small molecules, RNA-based therapeutics and antibody-based drug conjugates (ADCs). Serina is headquartered in Huntsville, Alabama on the campus of the HudsonAlpha Institute of Biotechnology.

For more information, please visit https://serinatherapeutics.com.

Cautionary Statement Regarding Forward-Looking Statement

This release contains forward-looking statements within the meaning of federal securities laws. These statements are based on management’s current expectations, plans, beliefs or forecasts for the future, and are subject to uncertainty and changes in circumstances. Any express or implied statements in this press release that are not statements of historical fact, including statements about the potential of Serina’s POZ polymer technology, are forward-looking statements that involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as the possibility of unfavorable new clinical data and further analyses of existing clinical data; the risk that clinical trial data are subject to differing interpretations and assessments by regulatory authorities; whether regulatory authorities will be satisfied with the design of and results from our clinical studies; whether and when any applications may be filed for any drug or vaccine candidates in any jurisdictions; whether and when regulatory authorities may approve any potential applications that may be filed for any drug or vaccine candidates in any jurisdictions, which will depend on a myriad of factors, including making a determination as to whether the product’s benefits outweigh its known risks and determination of the product’s efficacy and, if approved, whether any such drug or vaccine candidates will be commercially successful; decisions by regulatory authorities impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of any drug or vaccine candidates; and competitive developments. These risks as well as other risks are more fully discussed in the company’s Annual Report on Form 10-K for the year ended December 31, 2023, the company’s Current Report on Form 8-K that was filed with the SEC on April 1, 2024, and the company’s other periodic reports and documents filed from time to time with the SEC.

The information contained in this release is as of the date hereof, and Serina assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.

For inquiries, please contact:

Investor.relations@serinatherapeutics.com
(256) 327-9630

FAQ

How much funding did Serina Therapeutics (SER) secure in December 2024?

Serina Therapeutics secured $10 million in equity financing from JuvVentures (UK)

What is the share price for Serina Therapeutics' (SER) December 2024 financing?

The shares were priced at $10 per share, representing a 120% premium to the closing price on November 26, 2024.

When will Serina Therapeutics (SER) begin Phase 1 trials for SER-252?

Serina Therapeutics plans to begin Phase 1 clinical trials for SER-252 in advanced Parkinson's disease patients in the second half of 2025.

How will the $10 million financing be distributed to Serina Therapeutics (SER)?

The financing will be delivered in two $5 million tranches: the first received on November 27, 2024, and the second due by January 31, 2025.