• AUD$4M raised
• 3 first-in-class drugs identified
• each drug targeting major community unmet need.
Sydney, 16 February 2018: Noxopharm (NOX:ASX) is pleased to announce that it has raised A$4M (before costs) for its US-based subsidiary, Nyrada Inc. The funds were raised by the issuance of convertible notes to 40 Australian investors. The Notes have a maturity date of July 2019 and automatically convert to Nyrada shares at the time of a public listing prior to maturity. The Nyrada Board has flagged to Note holders its objective of seeking a listing on the ASX in the form of CHESS Depositary Interests during 2018 in association with an Initial Public Offering. A local listing is planned to precede an application in 2019 to list on a US exchange. Both listings will require the Company meeting a range of statutory conditions.
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