Glaser Weil Partner Marc Indeglia and Associate Gabriel Kiss represented Alumni Capital Management in an equity financing of Pittsburgh-based biotech company NeuBase Therapeutics Inc. (NASDAQ: NBSE). Alumni Capital is a millennial alternative investment manager comprising alumni and students from various schools throughout the United States. The company aims to invest in top-tier innovative companies in the public markets.
Under the terms and conditions of the agreement, NeuBase has the right, but not the obligation, to sell to Alumni $3 million of its shares of common stock, which amount may increase at NeuBase’s option up to $10 million in shares, until December 28, 2024, subject to certain limitations.
NeuBase is accelerating the genetic revolution by developing a new class of precision genetic medicines that “drug the genome.” NeuBase’s therapies are built on a proprietary platform called PATrOL™ that encompasses a novel peptide-nucleic acid antisense oligonucleobase technology combined with a novel delivery shuttle that overcomes many of the hurdles to selective mutation engagement, repeat dosing, and systemic delivery of genetic medicines. The transaction closed on December 28, 2022.