PDS Biotech Secures $22.55M PIPE Led by Nant Capital

PDS Biotechnology Corporation (NASDAQ: PDSB) raised up to $22.55 million in a private investment in public equity (PIPE) transaction, led by Nant Capital, LLC. The initial closing gross proceeds totaled approximately $11.55 million, with the second tranche of $11 million contingent on the submission of a Phase 3 clinical trial protocol for PDS0301 to the U.S. Food and Drug Administration (FDA). Nant Capital committed $10 million of this milestone amount, while AB Group Ltd. contributed $1 million. The transaction included the sale of common stock and pre-funded warrants at a unit price of $0.2825 each, alongside accompanying common stock purchase warrants. Nant Capital also secured the right to designate two board members, including Dr. Patrick Soon-Shiong, provided it maintains a 15% or greater beneficial ownership stake in the company. The proceeds will be used to repay outstanding debt, fund working capital, advance clinical development of PDS0301—a tumor-targeted interleukin-12 immunocytokine evaluated in solid tumors—and support research and administrative expenses for PDS0101, an HPV-targeted immunotherapy. NantWorks, LLC received a one-year exclusive license negotiation window for PDS0101. The closing was expected by mid-September 2026, following a timeline that included FDA protocol submission as a key milestone trigger.