Lobe Sciences upsizes private placement to fund sickle cell drug development

Lobe Sciences Ltd., a clinical-stage biopharmaceutical company, has announced an upsize to its previously announced non-brokered private placement offering of common shares. The shares are being offered at a price of $0.085 per share.

The company closed a first tranche of the placement on August 19, 2026, issuing 24,705,880 shares for gross proceeds of $2,100,000. Due to increased demand, the company intends to close a second tranche of 705,882 shares, which would bring the total aggregate proceeds to approximately $2,160,000 from 25,411,762 issued shares.

Lobe Sciences plans to use the funds for working capital, general corporate purposes, and to advance its S-100 drug candidate for the treatment of sickle cell disease. A portion of the proceeds will be allocated to its subsidiary, Applied Lipid Technologies, Inc., to support the S-100 program's progression toward human clinical trials. The company noted it has already procured the active pharmaceutical ingredient required for these studies.