business
Bolt Biotherapeutics Acquires Prana Therapies and Raises $120 Million
Bolt Biotherapeutics acquired Prana Therapies and raised $120 million to advance its multispecific antibody pipeline.
Bolt Biotherapeutics acquired Prana Therapies via a stock-for-stock reverse merger and raised $120 million in a private placement. Investors including Andreessen Horowitz and Deep Track Capital provided the funding, which may reach $180 million if warrants are exercised. The capital supports operations into 2028 to advance the INSPIRE platform and the PRA-216 drug candidate. Former Prana CEO Sheila Gujrathi joins Bolt as Chief Strategy Officer and board member.
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Bolt Biotherapeutics Acquires Prana Therapies and Raises $120 Million
Bolt Biotherapeutics acquired Prana Therapies through a stock-for-stock reverse merger. Simultaneously, the company secured a $120 million private placement to fund the advancement of its pipeline. The capital is specifically earmarked for the development of PRA-216, a next-generation multispecific antibody. This strategic move aims to accelerate the delivery of advanced therapeutic antibodies to the market.