Israel-based Entera Bio Ltd. (Nasdaq: ENTX) announced an oversubscribed private placement worth approximately USD 275 million to fully fund the Phase III registrational program for EB613, its oral PTH(1-34) tablet for postmenopausal osteoporosis, and extend its cash runway into 2030. The scale of the raise — more than 27 times the USD 10 million BVF Partners-led placement closed in April 2026 — reflects changing capital requirements as Entera moves from Phase III preparation into a full registrational trial.
The financing comprises 122,961,215 ordinary shares and pre-funded warrants for up to 11,842,695 additional shares, priced at USD 2.04 per ordinary share. BVF Partners L.P. led the placement as an existing investor and, upon closing, will receive the right to designate two directors to Entera's board. New investors participating include Longitude Capital, Vivo Capital, TCGX, Spruce Street Capital, Venrock Healthcare Capital Partners, RA Capital Management, Perceptive Advisors, Driehaus Capital Management, Logos Capital, and Catalio Capital Management, among others.
EB613 is designed as the first oral osteoanabolic tablet for osteoporosis, targeting patients who currently require daily subcutaneous injections of teriparatide. A 161-patient Phase II trial met all primary bone turnover biomarker and secondary bone mineral density endpoints. Following a Q1 2026 protocol submission to the FDA and positive agency feedback on trial design, Entera plans to initiate a 750-patient, randomized, double-blind, placebo-controlled Phase III study targeting late 2026, with topline data expected in the second half of 2028 and a subsequent NDA submission to the FDA.