MAIA Biotechnology Announces $2.44 Million Private Placement for Cancer Drug Development

MAIA Biotechnology, Inc. has announced a private placement expected to raise approximately $2.44 million, with the closing anticipated around October 30, 2024. The funds will be utilized for manufacturing THIO, a cancer treatment drug, for a Phase 2 trial targeting non-small cell lung cancer (NSCLC). The securities are offered under the 2021 Equity Incentive Plan and are not registered under the Securities Act, requiring an exemption for sale in the U.S. MAIA focuses on developing first-in-class drugs for cancer treatment, with THIO as its lead program. The company emphasizes the potential impact of its therapies on extending the lives of cancer patients. Forward-looking statements in the announcement highlight the company's expectations and plans but are subject to risks and uncertainties.