SELLAS Life Sciences Secures $25M From Healthcare Investor Via Registered Direct Offering

SELLAS Life Sciences Group, Inc. (NASDAQ: SLS), a clinical-stage biopharmaceutical developer specializing in oncology therapeutics, has completed a securities purchase agreement to raise approximately $25 million. The transaction involves a single institutional healthcare investor acquiring 19.7 million shares of common stock alongside warrants to purchase an equivalent number of shares at a combined price of $1.27 per unit, structured as a registered direct offering under Nasdaq rules.

Deal Structure and Timeline

The financing mechanism reflects market-responsive pricing methodology. Each warrant accompanying the common stock carries an exercise price of $1.20 per share, becomes immediately exercisable upon issuance, and carries a 5-year expiration window. Expected closing of the transaction was targeted for January 29, 2025, contingent upon routine closing requirements being satisfied.

A.G.P./Alliance Global Partners and Maxim Group LLC served as lead and co-placement agents respectively for this capital raise, which operates under an existing Form S-3 shelf registration statement (File No. 333-278334) previously registered with the U.S. Securities and Exchange Commission.

Deployment of Capital

SELLAS intends to allocate the net proceeds toward operational needs and corporate objectives. Priority areas include working capital replenishment and potential acquisition activities should suitable targets emerge. The gross proceeds figure of approximately $25 million excludes deductions for placement agent compensation and ancillary offering expenses.

Pipeline and Clinical Focus

The company’s therapeutic strategy centers on two primary product candidates. GPS, licensed from Memorial Sloan Kettering Cancer Center, represents the lead asset targeting WT1 protein expression across multiple malignancies. Clinical potential extends across both monotherapy applications and combination regimens addressing hematologic and solid tumor indications.

SLS009, formerly designated GFH009, constitutes a differentiated small-molecule CDK9 inhibitor candidate designed to address toxicity limitations inherent in existing CDK9-targeting approaches. Preliminary data indicate favorable response patterns in acute myeloid leukemia (AML) patients carrying unfavorable prognostic markers, particularly ASXL1 mutations associated with challenging disease biology.

This capital infusion enables continued advancement of SELLAS’ clinical development initiatives across its oncology portfolio.