Equillium Announces Up to $50 Million Financing to Advance EQ504, a Novel Aryl Hydrocarbon Receptor Modulator, into the Clinic

LA JOLLA, Calif.--(BUSINESS WIRE)-- #AhRModulation--Equillium, Inc. (“Equillium” or the “Company”) (Nasdaq: EQ), a biotechnology innovator developing novel therapies to treat severe autoimmune and inflammatory disorders, today announced it has entered into a definitive securities purchase agreement with leading healthcare investors that will provide up to $50 million in gross proceeds to Equillium. The private placement is comprised of (i) an initial upfront financing of approximately $30 million in gross proce