AUSTIN, Texas, April 18, 2018 (GLOBE NEWSWIRE) -- Aeglea BioTherapeutics, Inc., (Nasdaq:AGLE) a clinical-stage biotechnology company that designs and develops innovative human enzyme therapeutics for patients with rare genetic diseases and cancer, today announced the pricing of its underwritten public offering of 4,500,000 shares of common stock at a public offering price of $8.00 per share, with expected gross proceeds to Aeglea of $36 million. The offering is expected to close on April 23, 2018, subject to customary closing conditions.

Evercore Group L.L.C. and BMO Capital Markets Corp. are acting as joint book-running managers. JonesTrading Institutional Services LLC is acting as the lead manager.

Aeglea intends to use the net proceeds from the offering for general corporate purposes, which may include funding new and ongoing research and development, capital expenditures, accelerating manufacturing and regulatory activities, initializing commercialization infrastructure and increasing working capital. In addition, Aeglea has granted the underwriters of the offering a 30-day option to purchase up to an additional 675,000 shares of common stock at the public offering price, less underwriting discounts and commissions.

About Aeglea BioTherapeutics

Aeglea is a clinical-stage biotechnology company that designs and develops innovative human enzyme therapeutics for patients with rare genetic diseases and cancer. The company is developing pegzilarginase, its lead investigational therapy, for the treatment of Arginase 1 Deficiency, as monotherapy in arginine-dependent cancers and in combination with an immune checkpoint inhibitor for small cell lung cancer. In addition, Aeglea has an active research pipeline of other human enzyme-based approaches in both therapeutic areas.