Bolt Biotherapeutics Announces Acquisition of Prana Therapies and $120 Million Concurrent Private Placement to Advance PRA-216 in Multiple High-Value Inflammatory Indications
Key Highlights
- ➤Bolt acquires Prana in a stock-for-stock reverse merger
- ➤$120 million private placement could add $60 million through warrants
- ➤PRA-216 Phase 2 spans asthma, COPD, atopic dermatitis; EoE study planned
- ➤PRA-216 data from four trials expected beginning Q2 2027
- ➤Former Prana CEO Sheila Gujrathi joins Bolt as Chief Strategy Officer
Expert Statements
Sheila Gujrathi, M.D., Co-Founder and former Chief Executive Officer of Prana; Chief Strategy Officer of Bolt
“We built the INSPIRE platform to realize the potential of multispecific antibodies as medicines, combining complementary biology with the properties needed to deliver both greater efficacy and a better treatment experience for patients. PRA-216 is our flagship program, designed for best-in-disease efficacy together with the convenience of infrequent, at-home dosing.”
Sheila Gujrathi, M.D., Co-Founder and former Chief Executive Officer of Prana; Chief Strategy Officer of Bolt
“This transaction and financing provide the resources to advance PRA-216 through multiple Phase 2 readouts in 2027 while continuing to expand our INSPIRE pipeline. We are grateful for the support of our new and existing investors as we enter this next stage of development.”
Willie Quinn, Chief Executive Officer of Bolt Biotherapeutics
“We believe the acquisition of Prana provides a compelling opportunity for Bolt stockholders to participate in the potential of a differentiated, clinical-stage pipeline addressing large markets, beginning in inflammatory disease.”
Willie Quinn, Chief Executive Officer of Bolt Biotherapeutics
“We have been impressed by Prana’s team, the clinical profile demonstrated by PRA-216 to date, and the broader potential of the INSPIRE platform. We look forward to the opportunities ahead for the company.”
* Transactions position the company to advance Prana’s pipeline of next-generation, half-life-extended multispecific antibodies enabled by its proprietary INSPIRE platform
* PRA-216 is a novel IL-4Rα/TSLP bispecific antibody currently in Phase 2 development for asthma, COPD, and atopic dermatitis, with a Phase 2 study in EoE planned; patient data from all four trials expected beginning in the second quarter of 2027
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