Forte Biosciences raises $53M in oversubscribed private placement for FB102 clinical development

Forte Biosciences, Inc.

Gross proceeds ~$53M from shares and pre-funded warrants to institutional investors including OrbiMed, Janus Henderson, Tybourne.
Private placement expected to close November 21, 2024; net proceeds for working capital and general corporate purposes.
FB102 healthy volunteer study completed; celiac disease trial topline readout projected Q2 2025.
Additional indications expected over next 12 months; R&D Day on December 3, 2024.
CEO Paul Wagner says financing is transformative and well capitalized for continued advancement.

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