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10 Jan 2017

YmAbs Raises $12 Million in Equity Funding

Y-mAbs Therapeutics, Inc. closes $12 million in private placement among current shareholders

NEW YORK, January 9, 2017 – Y-mAbs Therapeutics, Inc. (YmAbs), an immunotherapy company discovering and developing. innovative treatments for patients with cancer, today announced that it has closed a private placement predominantly among its current shareholders raising $12 million. No placement agent was engaged in connection with the financing, which was oversubscribed.

YmAbs Founder, President and Head of Business Development and Strategy, Thomas Gad said, “Our existing shareholders continue to show strong support and are committed to bringing breakthrough immunotherapies to children faced with advanced cancers and clear unmet medical needs. The proceeds set YmAbs in a strong financial position, with potential to unlock significant near term value attributes.”

Dr. Claus Møller, Chief Executive Officer further notes, “This funding is an important financial achievement for YmAbs, as it enables us to focus on completing development and preparing the BLA for 131I-8H9 for Refractory Leptomeningeal Metastasis from Neuroblastoma.”

  • PR YmAbs Private Placement Insiders 09Jan2017 (004)

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