New York, NY, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Spartan Capital Securities, LLC, a leading investment banking firm, is pleased to announce its role as the sole placement agent in Virpax Pharmaceuticals, Inc.'s (Nasdaq: VRPX) successful $5.0 million public offering of common stock and pre-funded warrants.

Virpax Pharmaceuticals, a preclinical-stage pharmaceutical company focused on developing novel and proprietary drug delivery systems across various pain indications, raised $5.0 million through the sale of shares of common stock and pre-funded warrants at a public offering price of $0.50 per share. The company intends to use the proceeds for ongoing activities, including its planned Investigational New Drug (IND) filing for its patented injectable “local anesthetic” liposomal technology, Probudur™, aimed at post-operative pain management. Additionally, funds will be allocated to marketing and advertising services provided by IR Agency LLC, as well as general corporate purposes.

“We are proud to have served as the sole placement agent in Virpax Pharmaceuticals’ public offering,” said John Lowry, CEO of Spartan Capital Securities. “Virpax’s innovative approach to non-opioid pain management has the potential to address critical unmet needs in post-operative pain care. We look forward to continuing to support the company’s efforts to advance its breakthrough technologies.”

Spartan Capital Securities was represented by Lucosky Brooker LLP, with Scott Linksy, Xiaofan Zhang, and Raymond Ressy serving as counsel. Virpax Pharmaceuticals was represented by Sichenzia Ross Ference Carmel LLP, with Ross Carmel and Benjamin Sklar acting as counsel.

About Spartan Capital Securities, LLC

Spartan Capital Securities, LLC is a premier full-service investment banking firm offering a comprehensive range of advisory services to institutional clients and high-net-worth individuals. Known for its expertise in capital raising, strategic advisory, and asset management, Spartan Capital delivers tailored solutions to meet clients' financial goals.

For more information about Spartan Capital Securities, visit www.spartancapital.com.

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Spartan Capital Securities, LLC
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investmentbanking@spartancapital.com