The offering is led by existing investor BVF Partners L.P.
Expected gross proceeds are anticipated to extend the Company's cash runway into 2030 and fully support Phase 3 registrational studies for EB613, the first oral PTH(1-34) peptide tablet in development for the treatment of osteoporosis
TEL AVIV, July 27, 2026 (GLOBE NEWSWIRE) -- Entera Bio Ltd. (NASDAQ: ENTX) ("Entera" or the "Company"), a leader in the development of oral peptides, today announced that it has entered into a securities purchase agreement (the "Purchase Agreement") for an oversubscribed private placement financing (the "Private Placement"). The Private Placement is expected to result in aggregate gross proceeds to the Company of approximately $275 million, before deducting placement agent fees and other offering expenses.
The Private Placement is led by existing investor BVF Partners L.P. ("BVF"), with participation from new investors, including Longitude Capital, Vivo Capital, TCGX, Spruce Street Capital, Venrock Healthcare Capital Partners, RA Capital Management, Perceptive Advisors, Driehaus Capital Management, Logos Capital and Catalio Capital Management, among others.
Pursuant to the terms of the Purchase Agreement, the Company agreed to issue and sell an aggregate of 122,961,215 ordinary shares of the Company (the "Ordinary Shares") and, in lieu of Ordinary Shares to certain investors, pre-funded warrants to purchase up to an aggregate of 11,842,695 Ordinary Shares (the "Pre-Funded Warrants"). The purchase price per Ordinary Share is $2.04, and the purchase price per Pre-Funded Warrant is equal to $2.04 minus the exercise price of NIS 0.0000769 per Ordinary Share issuable thereunder. The Pre-Funded Warrants may not be exercised if the aggregate number of Ordinary Shares beneficially owned by the holder thereof, together with its affiliates, would exceed either 4.99% or 9.99, at the option of the holder, immediately after exercise thereof, subject to increases not in excess of 19.99% at the option of the holder. Each Pre-Funded Warrant has an exercise price of NIS 0.0000769 per Ordinary Share, is immediately exercisable and may be exercised at any time and has no expiration date, and is subject to customary adjustments. The Private Placement was priced at the market under the rules of the Nasdaq Stock Market ("Nasdaq"). The Private Placement is expected to close on or about July 28, 2026, subject to the satisfaction of customary closing conditions.
In addition, upon closing of the Private Placement, the Company has agreed to grant BVF the right to designate two directors to the Company's board of directors, subject to each BVF designee's satisfaction of all applicable requirements regarding service as a director under applicable law and Nasdaq rules and such other criteria and qualifications applicable to all directors of the Company.
The Company expects the net proceeds from the Private Placement, together with existing cash and cash equivalents, to be sufficient to fully fund the Company's planned Phase 3 registrational program of EB613, (oral PTH(1-34)), which is being developed as the first oral, osteoanabolic (bone building) once-daily tablet for the treatment of osteoporosis and through the anticipated submission of a New Drug Application to the U.S. Food and Drug Administration, advance EB612, Entera's oral PTH(1-34) replacement therapy candidate into Phase 1 development in collaboration with OPKO Health for the treatment of hypoparathyroidism, and for working capital and other general corporate purposes. The proceeds from the Private Placement, combined with the Company's current cash and cash equivalents, are expected to fund the Company's operations into 2030.
Leerink Partners is acting as lead placement agent for the Private Placement. Evercore ISI, Guggenheim Securities, Cantor, LifeSci Capital, and Canaccord Genuity are acting as co-placement agents for the Private Placement. Greenberg Traurig, P.A. and Herzog Fox & Neeman are acting as counsel to Entera.
The offer and sale of the foregoing securities are being made in a transaction not involving a public offering, and the securities have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Entera
Entera is a clinical stage company focused on developing oral peptide and protein replacement therapies for significant unmet medical needs where an oral tablet form holds the potential to transform the standard of care. The Company leverages a disruptive and proprietary technology platform (N-Tab®) and its pipeline of first-in-class oral peptide programs. The Company's most advanced product candidate, EB613 (oral PTH(1-34)), is being developed as the first oral, osteoanabolic (bone building) once-daily tablet for osteoporosis. A placebo-controlled, dose-ranging Phase 2 study of EB613 tablets (n = 161) met primary (PD/bone turnover biomarker) and secondary endpoints (BMD). Entera is also developing the first oral Long Acting PTH(1-34) tablet as a replacement therapy for patients with hypoparathyroidism (EB612), the first oral oxyntomodulin, a dual targeted GLP1/glucagon peptide tablet for the treatment of obesity and metabolic syndromes; and the first oral GLP-2 tablet as an injection-free alternative for patients suffering from rare malabsorption conditions such as short bowel syndrome in collaboration with OPKO Health, Inc. For more information on Entera, visit www.enterabio.com or follow us on LinkedIn, Twitter, and Facebook.
Cautionary Statement Regarding Forward Looking Statements
Various statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements (other than statements of historical facts) in this press release regarding our prospects, plans, financial position, business strategy, clinical development activities, collaboration arrangements and expected financial and operational results are forward-looking statements. Words such as, but not limited to, "anticipate," "believe," "can," "could," "expect," "estimate," "design," "goal," "intend," "may," "might," "objective," "plan," "predict," "project," "target," "likely," "should," "will," and "would," or the negative of these terms and similar expressions or words, identify forward-looking statements. Forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions and uncertainties. Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved. Important factors that could cause actual results to differ materially from those reflected in Entera's forward-looking statements include, among others: the completion of the Private Placement on the anticipated terms, timing or at all; the anticipated use of the net proceeds from the Private Placement; changes in the interpretation of clinical data; results of our clinical trials; the FDA's interpretation and review of our results from and analysis of our clinical trials; unexpected changes in our ongoing and planned preclinical development and clinical trials; the timing of and our ability to make regulatory filings and obtain and maintain regulatory approvals for our product candidates; the size and growth of the potential markets for our product candidates; the scope, progress and costs of developing Entera's product candidates; Entera's reliance on third parties to conduct its clinical trials; Entera's ability to establish and maintain development and commercialization collaborations; Entera's operation as a development stage company with limited operating history; Entera's competitive position with respect to other products on the market or in development for the treatment of osteoporosis, hypoparathyroidism, short bowel syndrome, obesity, metabolic conditions and other disease categories it pursues; Entera's ability to continue as a going concern absent access to sources of liquidity; Entera's ability to obtain and maintain regulatory approval for any of its product candidates; Entera's ability to comply with Nasdaq's minimum listing standards and other matters related to compliance with the requirements of being a public company in the United States; Entera's intellectual property position and its ability to protect its intellectual property; and other factors that are described in the "Cautionary Statement Regarding Forward-Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Entera's most recent Annual Report on Form 10-K filed with the SEC, as well as Entera's subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. There can be no assurance that the actual results or developments anticipated by Entera will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Entera. Therefore, no assurance can be given that the outcomes stated or implied in such forward-looking statements and estimates will be achieved. Entera cautions investors not to rely on the forward-looking statements Entera makes in this press release. The information in this press release is provided only as of the date of this press release, and Entera undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.
Company Contact:
IR@enterabio.com
