Noble Capital Markets Served as Co-Placement Agent to Eledon Pharmaceuticals (ELDN) in $180mm Private Placement.

Noble Capital Markets is pleased to announce its role as co-placement agent in connection with Eledon Pharmaceuticals, Inc.’s recently announced private placement of common stock and pre-funded warrants, which is expected to generate gross proceeds of approximately $185 million. The transaction involves the issuance of up to 60,606,072 shares (or pre-funded warrants in lieu thereof) in three tranches, subject to the satisfaction of specified clinical and trading conditions. The offering was led by returning investors BVF Partners L.P. and Armistice Capital LLC, with participation from Sanofi Ventures and others. The initial closing occurred the week of May 1, 2023.

Eledon Pharmaceuticals, Inc. (ELDN) is a clinical stage biotechnology company that is developing immune-modulating therapies for the management and treatment of life-threatening conditions. Eledon’s lead investigational product is tegoprubart, an anti-CD40L antibody with high affinity for the CD40 Ligand, a well-validated biological target that has broad therapeutic potential. Eledon currently intends to use the net proceeds from this offering to advance its pipeline and for working capital and general corporate purposes.

This transaction highlights Noble’s ongoing commitment to providing strategic capital markets and advisory services to middle-market companies across a wide range of sectors. With deep sector knowledge and a client-first approach, Noble supports companies throughout their lifecycle — from capital formation to M&A execution.

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For more information on this transaction, contact Nathan Cali @ ncali@noblecapitalmarkets.com