The financing is being led by new investor TCGX, and includes participation from additional new and existing investors, including RA Capital Management, Commodore Capital, Deep Track Capital, RTW Investments, Venrock Healthcare Capital Partners, and the T1D Fund. The private placement is expected to close on January 9, 2026, subject to customary closing conditions.
"We believe this financing further enables our ambition to unlock the full potential of our lead product candidate, CNTY-813, a potentially curative beta islet cell program for Type 1 diabetes," said Brent Pfeiffenberger, Pharm.D., Chief Executive Officer of Century Therapeutics. "We estimate this financing extends our cash runway to Q1 2029 with an anticipated IND submission for CNTY-813 in 2026 and initial clinical data for CNTY-813 expected in 2027. We are grateful for the high level of conviction and confidence shown by top investors focused on supporting development of our potential therapies for high-impact diseases, beginning with Type 1 diabetes."
Pursuant to the terms of the securities purchase agreement, Century Therapeutics will issue approximately 117,391,299 shares of common stock (or pre-funded warrants to purchase common stock in lieu thereof) and accompanying warrants to purchase 58,695,648 shares of common stock (or pre-funded warrants to purchase common stock in lieu thereof) in the private placement at a purchase price of $1.15 per share and accompanying warrant to purchase 0.5 shares of common stock (or pre-funded warrant to purchase common stock in lieu thereof) and at a purchase price of $1.1499 per pre-funded warrant and accompanying warrant to purchase 0.5 shares of common stock (or pre-funded warrant to purchase common stock in lieu thereof).
The pre-funded warrants will be exercisable immediately at an exercise price of $0.0001 per share and will not expire until exercised in full. The warrants to purchase common stock (or pre-funded warrants to purchase common stock in lieu thereof) will be exercisable immediately upon issuance at an exercise price of $2.60 per share or $2.599 per pre-funded warrant and will expire upon the earlier of (a) 30 days after the public announcement of initial Phase 1 clinical data for CNTY-813 and (b) the third anniversary of the closing of the private placement. Full exercise ...
