Werewolf Therapeutics, Inc. (NASDAQ:HOWL) and Ambros Therapeutics, Inc. announced Friday that they agreed to merge in an all-stock deal. The companies also secured commitments for a $150 million private placement.
The combined company will operate as Ambros Therapeutics and is expected to trade on Nasdaq under the ticker "AMBX." It will focus on developing neridronate, a potential treatment for Complex Regional Pain Syndrome Type 1, or CRPS-1.
$150 Million Financing Extends Cash Runway
The oversubscribed private placement is co-led by RA Capital Management and Janus Henderson Investors. Other investors include Aberdeen Investments, Adage Capital Partners and Balyasny Asset Management.
The financing is expected to fund operations through topline results from the pivotal CRPS-RISE Phase 3 trial in 2028. It will also support a planned New Drug Application submission to the U.S. Food and Drug Administration. The combined company expects a cash runway into the first half of 2029.
