Sesen Bio Inc.

Canaccord Genuity acts as the Sole Bookrunner on a $30 Million Follow-On Offering for Sesen Bio, Inc.

Canaccord Genuity is pleased to announce the completion of a follow-on offering of 20.4 million shares at an issue price of $1.47 per share and accompanying warrant, raising gross proceeds of $30 million.

Sesen Bio intends to use the net proceeds from this offering for the clinical development and FDA regulatory submission of Vicinium for the treatment of high-risk non-muscle invasive bladder cancer (NMIBC), the continued development of commercial-scale manufacturing capabilities for Vicinium for the treatment of high-risk NMIBC by its third-party contract manufacturers (including the manufacturing process and technology transfer of Vicinium production to Fujifilm to support such efforts), the development of commercial capabilities for a potential launch of Vicinium, if approved, for the treatment of high-risk NMIBC, including investment to establish and continue to build its commercial infrastructure and supply chain, and general corporate purposes, which may include capital expenditures and other operating expenses.

Sesen Bio, Inc. is a late-stage clinical company advancing targeted fusion protein therapeutics for the treatment of patients with cancer. The Company’s lead program, Vicinium®, also known as VB4-845, is currently in a Phase 3 registration trial, the VISTA trial, for the treatment of high-risk, BCG-unresponsive NMIBC. Vicinium is a locally-administered targeted fusion protein composed of an anti-EPCAM antibody fragment tethered to a truncated form of Pseudomonas Exotoxin A for the treatment of high-risk NMIBC.

The Canaccord Genuity deal team consisted of Eugene Rozelman, Jennifer Pardi, Brian O’Connor, Tara Hartigan, Gaurav Mehta, Mike Wright, Charles Tran, Tyler Chamberland, Esther Lee, and Brooke Szczygiel.