Estrella Immunopharma Inc Successfully Listed on NASDAQ (NASDAQ: ESLA)
Industry: Biotechnology and Pharmaceuticals
Listing Date: September 2023, NASDAQ
Capital Raised: USD 44.3 million
Partners: Tiger TradeUP Acquisition (SPAC merger partner), PIPE underwriting partners
Yangkang Asset assisted Estrella Immunopharma (NASDAQ: ESLA) to spin off from its parent company Eureka and successfully go public via a SPAC merger. The total amount raised from the listing and private placements was approximately USD 44.3 million, including funds raised through PIPE private placements. This capital injection accelerates the development of the CD19/CD22-targeted ARTEMIS® T-cell immunotherapy and effectively strengthens its financial resources to advance the STARLIGHT‑1 Phase 1 clinical trial and expand clinical trial sites.
The structured use of funds includes completing the STARLIGHT‑1 Phase 1 clinical trial, covering affinity dose testing, patient safety evaluations, and other clinical milestones. The funds also support trial site expansion, including adding the Baylor Research Institute in Texas as a new trial site to enhance patient recruitment efficiency and clinical coverage. Additionally, Estrella has signed a clinical technical service agreement (SOW) with its core parent company Eureka to ensure smooth supply of ARTEMIS® platform and EB103 materials, and is integrating Imugene’s CF33‑CD19t technology to prepare for potential future expansion into solid tumor stages. The clear fundraising goals and focused resource allocation aim to accelerate breakthroughs of ARTEMIS® T-cell in tumor treatment pathways, laying a solid foundation for the company’s next phase of operations.