Lakewood-Amedex raises $7.5M Series C, lists on Nasdaq and clears $1.5M debt
What's the deal? Lakewood-Amedex BiotherapeuticsDealroom has a profile for this one. Try Dealroom → raised roughly $7.5 million in a Series C round through a private placement of convertible preferred stock. The clinical-stage biotech also completed a direct listing on the Nasdaq Capital MarketDealroom has a profile for this one. Try Dealroom → on April 23, 2026, under the ticker LABT.
Why now? The listing triggered an automatic conversion of all outstanding convertible notes and preferred stock into common shares. That mechanism let the company wipe roughly $1.5 million in related-party notes, plus $100,881 in accrued interest, off its balance sheet.
What's the endgame? Lakewood-Amedex is developing Nu-3, its lead candidate for diabetic foot ulcer infections. Research and development spending rose to $685,167 for the first six months of 2026, up from $316,605 a year earlier, reflecting increased clinical activity.
By the numbers: The financing reshaped the company's books. Cash climbed to $2,584,774 as of June 30, 2026, from $236,400 at the end of 2025, while total liabilities fell to $628,926 from $2,405,100. Stockholders' equity swung from a $1,964,537 deficit to positive $4,331,083.
Losses widened, however. The net loss reached $3,772,008 in the second quarter, against $655,943 a year earlier, driven largely by listing-related general and administrative costs. The company reported no revenue.
What could go wrong? Management reiterated a going concern warning, citing substantial doubt about the company's ability to operate over the next year. It expects the Series C proceeds and debt elimination to fund operations into the first quarter of 2027, but will need more capital beyond that.
The signal: At $7.5 million, this round sits in the smaller tier of biotech financings, ranking in the bottom fifth by size. For a pre-revenue company, the combination of a fresh raise, a Nasdaq listing and a cleaner balance sheet buys runway — but the going concern flag shows how thin that runway remains.
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