Puma Biotechnology, a US-based biotech company to treat cancer, has made its second private placement of shares to raise $60m in the past month.
The company has sold 16 million shares at $3.75 each to help fund the development of its PB-272 treatment.
Venture capital firm Adage Capital Partners led the placement, and was joined by peers Brookside Capital and Orbimed Advisors, fund manager Jennison Associates, merchant bank H&Q’s Healthcare Investor and Life Science Investors, and mutual fund manager T Rowe Price. Leerink Swann placed the shares.