Starpharma Holdings Limited
(ASX:SPL) has raised $32 million via a placement to domestic and international institutional, sophisticated and professional investors.
The company advised the placement was significantly oversubscribed. The placement was conducted at $0.73 per share.
The funds raised will support advancement of the business, including the DEP docetaxel Phase 2 clinical program and the acceleration of further DEP drug delivery candidates into the clinic.
Eligible shareholders will also have the opportunity to participate via a share purchase plan which will raise up to a further $3 million.
Starpharma recorded a net loss of $18.9 million at 30 June 2015.
