TFF Pharmaceuticals Secures $25.9 Million

TFF Pharmaceuticals Inc., a clinical-stage biopharmaceutical company focused on developing and commercializing drug products based on its patented Thin Film Freezing (TFF) technology platform, has entered into a definitive agreement with a syndicate of high quality healthcare investors for the private placement of up to $25,913,550, before deducting placement agent and other offering expenses, of common shares of the company. The private placement is expected to close, subject to customary closing conditions, on Thursday, August 13, 2020.

Net proceeds from the financing will be used to accelerate the expansion of the company’s internal development portfolio beyond its programs for Voriconazole and Tacrolimus inhalation powders. These investments will continue to focus on products that have the potential to produce better therapeutic outcomes with thin film freezing formulations. The company will continue its strategic focus on products that can achieve marketing approval following the 505(b)(2) regulatory pathway.

“Today’s significant financing, by these quality healthcare institutional investors, underlines our commitment to bring our advanced technology to improve drug delivery, and will allow us to accelerate and advance our internal development pipeline,” said Glenn Mattes, president and CEO of TFF Pharmaceuticals. “Our ability to secure this transaction is a strong validation of our Thin Film Freezing technology platform and reflects our track record in meeting internal development milestones, as well as our active business development and partnering efforts.”