Connect Biopharma Announces $20.2 Million Private Placement Financing

Funding from new and existing investors extends anticipated cash runway into the second half of 2027 SAN DIEGO, March 30, 2026 (GLOBE NEWSWIRE) -- Connect Biopharma Holdings Limited (Nasdaq: CNTB) (“Connect Biopharma,” “Connect” or the “Company”), a clinical-stage biopharmaceutical company focused on transforming care for the treatment of inflammatory diseases, today announced that it has entered into a securities purchase agreement with a select group of institutional accredited investors to sell 6,130,000 shares of its ordinary shares in a private placement at a price of $3.25 per share with respect to any purchaser that is not owned or controlled by an individual who is an officer, director, employee or consultant of the Company. Connect anticipates the gross proceeds from the private placement will be approximately $20.2 million, before deducting placement agent fees and other offering expenses.