Noxopharm Limited (ASX:NOX) is pleased to announce the placement of 16,666,667 fully paid ordinary shares to sophisticated and institutional investors at a price of $0.33 per share, raising a total of A$5,500,000 (before costs).
Noxopharm has raised the funds to enable it to accelerate the clinical development of its front-line drug, NOX66, currently undergoing clinical trialing.
Commenting on the successful raising, CEO Dr Graham Kelly, said, “This raise comes on the back of growing confidence the Company has in NOX66 both in terms of safety and its anti-cancer effect.”
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