Looking ahead, Bolt Biotherapeutics acquires Prana Therapies
Landon Capital News
Bolt Biotherapeutics (Nasdaq: BOLT) announced the acquisition of Prana Therapies, Inc. through a stock-for-stock reverse merger, along with a concurrent $120 million private placement, according to a company press release dated Oct. 23, 2026.
The acquisition gives Bolt access to Prana’s INSPIRE platform and its lead asset, PRA-216, a bispecific antibody targeting IL-4Rα and TSLP. PRA-216 is currently in Phase 2 trials for asthma, chronic obstructive pulmonary disease, and atopic dermatitis, with a Phase 2 study in eosinophilic esophagitis planned. Patient data from all four trials are expected beginning in the second quarter of 2027.
The private placement, structured as Series D non-voting convertible preferred stock, raised $120 million in upfront gross proceeds, with up to an additional $60 million available upon exercise of accompanying warrants. Investors include Deep Track Capital, Andreessen Horowitz, ADAR1 Capital, Casdin Capital, Soleus Capital, and others. The placement is expected to close Oct. 26, 2026, with proceeds anticipated to fund operations into 2028.
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