NEW YORK, NY, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Spartan Capital Securities, LLC, a leading full-service investment banking and financial advisory firm, is proud to announce its role as sole placement agent for Virpax Pharmaceuticals, Inc. (Nasdaq: VRPX) in the successful close of its $6 million follow-on offering.

Virpax Pharmaceuticals, Inc. (Nasdaq: VRPX) is a preclinical-stage pharmaceutical company pioneering novel drug delivery systems for pain management and central nervous system disorders. The proceeds from the offering will enable Virpax to support the ongoing clinical trial development of Probudur, fund marketing and advertising efforts, for general corporate purposes, and to provide working capital.

"We are pleased to support Virpax Pharmaceuticals in this offering and look forward to seeing the continued progress of their innovative drug delivery technologies," said John Lowry, CEO of Spartan Capital Securities. "Spartan Capital remains committed to helping emerging biotech and pharmaceutical companies access the capital they need to advance groundbreaking solutions that address unmet medical needs."

Legal counsel for Virpax Pharmaceuticals was provided by Sichenzia Ross Ference Carmel LLP, with representation by Ross Carmel and Benjamin Sklar. Spartan Capital Securities was represented by Lucosky Brookman LLP, with Scott Linsky, Raymond Ressy, and Xiafan Cheng serving as counsel.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under applicable securities laws.

About Virpax Pharmaceuticals, Inc.

Virpax Pharmaceuticals, Inc. (Nasdaq: VRPX) is a preclinical-stage pharmaceutical company focused on developing novel and proprietary drug delivery systems to address various pain indications and enhance compliance. The company’s innovative pipeline aims to advance non-opioid and non-addictive treatments for pain and central nervous system disorders, improving the quality of life for patients worldwide.

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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