On September 10, 2025, Belite Bio, Inc., a clinical-stage drug development company focused on advancing novel therapeutics targeting degenerative retinal diseases that have significant unmet medical needs, announced that it has entered into securities purchase agreements with leading healthcare investors for a private placement in public equity financing (PIPE) that is expected to result in gross proceeds of approximately $125 million, before deducting placement agent fees and estimated offering expenses, and up to an additional approximately $150 million in gross proceeds if the accompanying warrants are fully exercised for cash. Wilson Sonsini Goodrich and Rosati advised Belite Bio on patent matters related to the transaction.
Pursuant to the terms of the securities purchase agreements, at the closing of the PIPE, Belite Bio will issue 1,953,124 ordinary shares and warrants to purchase 1,953,124 ordinary shares, at a purchase price of $64.00 per ordinary share and accompanying warrant. Each warrant will be immediately exercisable with an exercise price of $76.80 per ordinary share, representing a 20% premium to the PIPE purchase price, and will expire two years from the date of issuance.
The PIPE is expected to result in gross proceeds of approximately $125 million at close, before deducting placement agent fees and estimated offering expenses, as well as the potential for additional proceeds of approximately $150 million from the exercise of the warrants issued in the PIPE.
Belite Bio intends to use the net proceeds from the PIPE for commercialization preparation, working capital and general corporate purposes.
Belite Bio, Inc is a clinical stage drug development company focused on advancing novel therapeutics targeting degenerative retinal diseases with significant unmet medical needs, such as Stargardt disease and geographic atrophy in advanced dry age-related macular degeneration, in addition to specific metabolic diseases.
The Wilson Sonsini team that advised Belite Bio on patent matters related to the transaction was led by Matthew Bresnahan, Victoria Cheng, and August Renshaw.
For more information, please see Belite Bio’s news release.
