XORTX Therapeutics Inc. issues common units via private placement

Date Closed

February 28, 2020

Lead Office



2.56 Million CAD

On March 2, 2020, XORTX Therapeutics Inc. announced that it had completed an issuance of 18,259,427 common units via private placement. It concurrently issued 139,657 broker warrants, for aggregate gross proceeds of approximately C$2.56 million. The net proceeds of the offering will be used to advance XORTX’s development of XRx-008 and XRx-221 for polycystic kidney disease.

XORTX is a Calgary-based drug development company focused on uric acid lowering agents and treatments of metabolic diseases.

McCarthy Tetrault advised XORTX with a team led by Rick Pawluk that included Niki Gill and John Norman.