Tanvex Biologics Corporation announced a private placement of common shares for gross proceeds of $5,000,000 on February 6, 2024. The transaction will include participation from returning investor Tanvex BioPharma, Inc. to retain its 100% stake holding in the company. The transaction has been approved by the board of directors of the investor.

The transaction is expected to close between February 6, 2024 and December 31, 2024.