Climb Bio raises $110 million in private placement

Climb Bio Inc. (NASDAQ: CLYM) announced it entered into a securities purchase agreement with institutional investors for a private placement expected to raise approximately $110 million in gross proceeds before fees and expenses.

The clinical-stage biotechnology company, which develops therapeutics for immune-mediated diseases, expects the private placement to close on or around April 29, 2026, subject to customary closing conditions.

The offering includes participation from both new and existing shareholders, including Adage Capital Partners, ADAR1 Capital Management, Affinity Asset Advisors, Ally Bridge Group, Cormorant Asset Management, Driehaus Capital Management, Great Point Partners, RA Capital Management, Redmile, Sirenia Capital Management and Woodline Partners, along with other institutional investors.

Under the agreement, Climb Bio is selling 9,481,000 shares of common stock at $9.50 per share. The company is also offering pre-funded warrants to purchase up to 2,106,000 shares at $9.4999 per warrant to certain investors in lieu of common stock. The pre-funded warrants carry an exercise price of $0.0001 per share and are exercisable immediately, subject to beneficial ownership limitations.

Leerink Partners and Piper Sandler serve as lead placement agents, while Raymond James, BTIG, Baird and H.C. Wainwright also act as placement agents for the transaction.

The securities have not been registered under the Securities Act of 1933. Climb Bio agreed to file a registration statement with the Securities and Exchange Commission for the resale of the shares and warrant shares within 45 days after closing.

Climb Bio's pipeline includes budoprutug, an anti-CD19 monoclonal antibody for B-cell mediated diseases, and CLYM116, an anti-APRIL monoclonal antibody being developed for IgA nephropathy.

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