Lin BioScience announced on September 9 that its subsidiary, Belite Bio, Inc., has entered into a private investment in public equity (PIPE) subscription agreement with top global life sciences investors including RA Capital, Eventide, Marshall Wace, RTW, Soleus, and Vestal Point. Prior to deducting any issuance-related fees, the private placement is expected to raise approximately USD 125 million (around NT$3.8 billion), with the issuance of one common share plus one unit warrant per USD 64. Each unit warrant allows the subscription of one common share at a strike price of USD 76.8.
Lin BioScience noted that RA Capital is leading the private placement. Founded in 2004, RA Capital is a clinical evidence-driven investment management firm specializing in life sciences and is one of the most active investors globally in the biotech sector, with total assets under management of approximately USD 12.6 billion.
Other investors participating in this private placement include Eventide, known for value-oriented investment strategies; the European hedge fund Marshall Wace; and internationally recognized life sciences investors RTW, Soleus, and Vestal Point. The warrants’ strike price of USD 76.8 represents a 20% premium over the private placement subscription price, potentially providing an additional USD 150 million in funding if fully exercised. The placement is expected to close on September 9, U.S. Eastern Time, subject to customary closing conditions.
Belite Chairman and CEO Mao-Yuan Lin stated: “We are grateful for the support of these leading global life sciences investors, which enables us to continue advancing innovative and potentially breakthrough therapies for retinal degenerative diseases with high unmet medical needs. We especially appreciate their confidence in LBS-008 (Tinlarebant) for treating Stargardt disease (STGD1) and advanced geographic atrophy (GA).
“This investment not only validates the mechanism of action of RBP4 inhibitors but also affirms the scientific approach for treating these conditions. We anticipate that the proceeds from this financing will support ongoing development of Tinlarebant, ultimately offering better treatment options for patients with STGD1 and GA.”
Lin BioScience further noted that since April last year, Belite has achieved multiple key milestones in drug development and has attracted funding from five major international investment institutions. The first four financing rounds occurred even before interim analysis results from the LBS-008 STGD1 Phase III global trial (DRAGON) were available, consistently drawing strong interest and repeated investments from leading international investors. This latest private placement, conducted as DRAGON nears completion, has secured joint support from six top global life sciences investors, setting a record for funding raised. This demonstrates both the future potential of LBS-008 and Belite’s growth trajectory, earning strong recognition and trust from mainstream biotech investors in the international capital market.
Lin BioScience stated that the secured funding provides a solid foundation for Belite’s long-term development. The company plans to maintain active communication with regulatory authorities worldwide, attract further international capital attention, and aim to capture the substantial market opportunity for the world’s first oral therapy for STGD1 and GA. The company does not rule out potential licensing collaborations with global pharmaceutical partners to accelerate drug development and commercialization, with the goal of preserving patients’ vision and maximizing shareholder value.
Resource: 仁新子公司 Belite 在 LBS-008 STGD1三期臨床完成 獲84億元私募融資
