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Trillium closes common, preferred stock offering

Trillium Therapeutics Inc. closed an underwritten public offering of 2,750,000 common shares and 3,250,000 series II nonvoting convertible first preferred shares at $5 apiece with gross proceeds of $30 million.

The company plans to use the net proceeds to advance and expand the current phase 1 trial of SIRPaFc in patients with advanced hematologic malignancies, as well as the solid tumor phase 1 trial of SIRPaFc in patients with relapsed and refractory, percutaneously accessible cancers through the dose escalation and expansion phases.

In addition, Trillium will use the proceeds to initiate and conduct a phase 1 trial for TTI-622, with dose escalation and expansion phase focused on combination treatment and for general corporate and working capital purposes.

Cowen acted as the sole book-running manager for the offering, with Ladenburg Thalmann as co-manager.