PR Newswire·Mar 19, 2026, 1:13 PM ET

Azitra Announces Pricing of Private Placement Financing of up to Approximately $10.5 Million with up to an Additional Approximately $20.9 Million

Azitra Inc. announced a securities purchase agreement with institutional investors & insiders to raise up to $31.4 million in gross proceeds.
Initial funding includes approximately $10.5 million in cash plus up to an additional $20.9 million upon potential cash exercise of accompanying warrants.
The transaction involves the sale of 10,470 shares of Series A convertible non-redeemable preferred stock at $1,000 per share.
Investors received Series B Warrants & Series C Warrants to purchase up to 85,101,201 shares of common stock each, with an exercise price of $0.123 per share.
Financing enables Azitra to launch new protein & peptide research programs for the cosmetic & cosmeceutical markets using its microbial genetic engineering platform.
The biotech cosmetic ingredient market reached $2.3 billion in 2024 & is projected to grow to $3.7 billion by 2030.
New initiatives focus on proprietary filaggrin protein & peptide technologies to address fine lines, wrinkles, dry sensitive skin, & eczema-like rashes.
The transaction is expected to close on or about March 20, 2026, subject to customary closing conditions & stockholder approval.
Proceeds will be used for research & development, general corporate expenses, & working capital needs.
Participating investors include Stonepine Capital, Nantahala Capital, other institutional funds, healthcare professionals, & company insiders including the CEO.