Telomir Pharmaceuticals (Nasdaq: TELO) raised approximately USD 5.6 million in a private investment in public equity (PIPE) financing, with proceeds directed toward clinical development of its lead program in advanced or metastatic triple-negative breast cancer (TNBC).
Existing shareholder John Paul DeJoria contributed USD 1.0 million alongside other previous investors, while new investors also participated. Telomir issued 4,843,300 shares at USD 1.16 per share, a 5% discount to the applicable 10-day volume-weighted average price, with no warrants, convertible securities, or variable-price features.
The financing will support the advance of Telomir-Zn, an investigational oral small molecule the company is developing as an epigenetic therapy designed to modulate intracellular iron and copper homeostasis and influence gene-control pathways implicated in cancer. The US FDA has cleared an investigational new drug application for Telomir-Zn, permitting a first-in-human Phase I/II trial in patients with advanced or metastatic TNBC; the company has not reported that the trial has started or that any participant has been dosed. The Phase I portion is designed to assess safety, tolerability, dose selection, pharmacodynamic biomarkers, and preliminary antitumor activity, with the Phase II expansion intended to provide an initial clinical proof-of-concept assessment.