Phylogica provides the following update in relation to its current capital raising.
The capital raising:
- is being conducted at a price of 3 cents per share;
- is an excluded offer available to professional investors only and will introduce new sophisticated and institutional investors to Phylogica’s register;
- is being supported by the Company’s existing major shareholders; and
- will provide funding for three primary activities:
Completing the screening of PYC’s enriched drug libraries for ‘second generation’ Cell Penetrating Peptides (CPPs);
Reaching a definitive read-out on the ability of PYC’s CPPs to deliver a range of different therapeutic cargoes in therapeutic settings (either ex vivo or in vivo); and
Advancing its flagship program through to an Investigational New Drug (IND) filing in order to enable ‘first in human’ studies utilising the company’s CPPs.
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