Paradigm Announces Launch Of A$77.9 Mn Capital Raise For Clinical Trials

Paradigm Announces Launch Of A$77.9 Mn Capital Raise For Clinical Trials

Paradigm Biopharmaceuticals Limited (ASX: PAR) announced launch of A$77.9 million capital raise anticipated to fund the company’s osteoarthritis (OA) and mucopolysaccharidosis (MPS) programs through to the end of their pivotal Phase 3 studies, new drug applications, working capital, costs of offer, further preclinical studies and possibly further intellectual property acquisitions.

The capital raise comprises a $51.5 million placement to sophisticated and professional investors across Australia, Asia and the US, including some existing shareholders(“Placement”) and a $26.3 million underwritten 1 for 8 accelerated non-renounceable entitlement offer (“Entitlement Offer”) to all eligible shareholders registered with an address in Australia or New Zealand as at the Record Date on April 17, 2019, with the company reserving the right as per ASX Listing Rule

... read more at: https://kalkinemedia.com/2019/04/15/paradigm-announces-launch-of-a77-9-mn-capital-raise-for-clinical-trials/

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