MAIA Biotechnology, a Phase 2 biotech developing targeted immunotherapies for cancer, raised $10 million by offering 2 million shares at $5, the low end of the range of $5 to $7. The company offered 0.3 million more shares than anticipated.
The company's lead candidate, THIO, is expected to enter Phase 2 human trials in Australia and Europe in 2022 for Non-Small Cell Lung Cancer (NSCLC). Based on the clinical data generated by the THIO-101 trial, MAIA Biotechnology plans to seek an accelerated approval of THIO in the US for treatment of advanced NSCLC in late 2024. In addition, the company intends to start planning a trial of THIO for advanced colorectal cancer in the 1Q23.
MAIA Biotechnology plans to list on the NYSE American under the symbol MAIA. ThinkEquity acted as sole bookrunner on the deal.
