IRX Therapeutics, Inc.

Company Summary

IRX Therapeutics, Inc. is a clinical-stage company developing novel immunotherapies focused on reducing the immune suppression that is seen in the cancer tumor microenvironment, restoring immune function, and activating a coordinated immune response against the tumor.

Transaction Overview

On 4 May, 2015, IRX announced that it had completed a Series C financing in the amount of $25 million to advance the IRX-2 therapeutic candidate to Phase-2b clinical studies
In conjunction with the Series C, the Company completed a strategic partnership relating to the option to acquire rights to the Company’s head & neck indication upon the completion of the Phase-2b trial for $425 million
In conjunction with the enrollment of the Phase-2b trial, the Company completed an offering of Convertible Notes in the amount of $20 million

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Significance of the Transaction

The Series C and Notes financings permit the Company to pursue advanced clinical development of it lead therapeutic candidate The option transaction validates the importance of the Company’s science and strategic platform while providing visibility of attractive “exit” pathway upon near-term success.

Healthios Role

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Private Placement

IRX Therapeutics, Inc.

Has provided fairness opinion relating to a $20,000,000 offering of convertible notes

The undersigned acted as financial advisor to IRX Therapeutics