Chinook raises $106M in private placement as it prepares to close merger with Aduro

As Versant-backed Chinook prepares to hit Nasdaq after a merger with Aduro, the Vancouver-based biotech has secured alternative funding to an IPO.

Chinook raised $106 million in private placement financing, the company said Tuesday, which is expected to close immediately before the merger is completed. Once that’s finished, likely sometime before the end of the year, Aduro will take on the Chinook name and trade under the ticker $KDNY.