What's happened?
Amplia Therapeutics Limited (ASX: ATX, “Amplia”) has successfully completed the Institutional Entitlement Offer component of its fully underwritten, accelerated, non-renounceable entitlement offer to raise $4.0m.
What are the key highlights?
- The Institutional Entitlement Offer has raised $2.0 million for a total of 19.9 million fully paid ordinary shares. It was strongly supported by the Company’s largest shareholder, Platinum International Healthcare Fund, along with a new cornerstone shareholder who is highly experienced in biotechnology investments.
- The remaining 20.0 million New Shares will be offered under the Retail Entitlement Offer which will open on Wednesday 8th July 2020 and close on Tuesday 28th July 2020.
- The proceeds from the Entitlement Offer will be used to fund a Phase 1 clinical trial of the Company’s FAK inhibitor drug AMP945, additional non-clinical studies and provide additional working capital for the Company.
For further information, please refer to the announcement linked below.
