Connect Biopharma has entered into a securities purchase agreement for a private placement of 6,130,000 ordinary shares at $3.25 per share, targeting gross proceeds of approximately $20.2 million.

Key details:

• Transaction closing: Expected March 31, 2026, subject to customary conditions.
• Placement agents: Leerink Partners and Cantor Fitzgerald.
• Use of proceeds: Funding R&D for clinical programs, working capital, and general corporate purposes.
• Resale registration: Company plans to file within 45 days of closing.

Agreement specifics:

• Type: Securities purchase agreement (private placement of ordinary shares)
• Counterparty: Institutional investors
• Signed / Effective dates: March 29, 2026 / March 31, 2026
• Duration / Termination: At will
• Purpose: Fund research programs, working capital, and corporate needs

This funding round strengthens Connect Biopharma’s ability to advance its clinical pipeline while maintaining operational flexibility.