Perth, Australia: 7th April 2014 – Leading peptide drug discovery company Phylogica Ltd (ASX:PYC, XETRA:PH7) provides this update to shareholders covering:
- Capital Raising
- Latest progress on Janssen collaboration and Phylogica’s novel Endosomal Escape Trap development – potential to make some existing treatments 25-50 times more effective.
Successful Completion of Non-Renounceable Rights Offer
In January Phylogica was delighted with the successful non-renounceable rights offer that raised $6.1 million. The offer was fully underwritten by Bernard Hockings, our largest shareholder, and Patersons Securities. In a show of strong support 87% of the entitlement offer was taken-up by existing shareholders. The capital provides Phylogica with a cash runway of about two years, which will be used to commercialise our unique drug discovery platform.
For further information please download PDF attached:
