Pharmaceutical Innovator Virpax Secures $6 Million Financing with Lucosky Brookman and Spartan Capital
In a pivotal development for the pain management sector, Virpax Pharmaceuticals, Inc. (NASDAQ: VRPX) has successfully raised $6 million through a public offering, strengthening its position in the development of novel drug delivery systems. The transaction, which included both common stock and pre-funded warrants at $0.20 per share, attracted significant investor interest in the company's non-opioid therapeutic pipeline.
Under the guidance of Spartan Capital Securities, LLC as exclusive placement agent, with Lucosky Brookman LLP serving as their legal counsel, the financing provides Virpax with essential capital to advance its strategic objectives. The successful completion of this offering reflects growing market confidence in Virpax's innovative approach to pain management solutions.
The company plans to deploy the proceeds across several key initiatives:
- Advancement of Probudur into clinical trials
- Enhancement of market presence and investor communications
- Operational expansion and working capital
- Strategic development of proprietary drug delivery platforms
The transaction was executed through an effective Form S-1 registration statement, previously declared effective by the SEC on January 27, 2025. This financing positions Virpax to accelerate its development of non-addictive pain treatments, potentially transforming patient care in multiple therapeutic areas.
The closing of this offering represents a significant milestone in Virpax's journey to revolutionize pain management through innovative drug delivery technologies, while highlighting the continued collaboration between Lucosky Brookman and leading investment firms in advancing healthcare solutions.