Aspen Neuroscience, Inc. ASPE

Aspen Neuroscience, Inc. develops autologous induced-pluripotent stem cell-derived therapies for neurodegenerative diseases, with a lead product candidate for Parkinson's disease. The company is based in San Diego, CA, and sold 9,375,000 shares at $15.00 per share.

The company will use the $125.8 million in net proceeds to fund the clinical development of sasineprocel, fund the research and development of other product candidates, and for working capital and general corporate purposes. After the offering, entities affiliated with OrbiMed Private Investments VII, LP hold 8.9%, entities affiliated with ARCH Venture Fund X, L.P. hold 8.3%, entities affiliated with Gilead Sciences, Inc. hold 5.7%, entities affiliated with Frazier Life Sciences X, L.P. hold 4.6%, and entities affiliated with Q Healthcare Holding LLC hold 4.6%.