no need to be concerned, page-11

Greg, looks like they won't need your 0.01c :)

By the way imo this company has a long road ahead of it and is not a threat to Prima's viability in the foreseeable future.Cheers

Capital Briefs: QBiotics

Amanda Ellis
Thursday, 17 June 2010

IN the wake of a high-profile, well-executed capital raising campaign, QBiotics has raised some $8.1 million to support in-human research into its tumour-reduction drug EBC-46.



By yesterday afternoon, the company had raised $9.4 million from investors and said it expected to close its $10 million in a matter of days.

A representative for the company told BTN the money would help fund Phase 1 and possibly Phase 2 human trials of EBC-46.

The research program is expected to kick off in early 2011.

The capital raising is being managed by QBiotics corporate finance manager Reuben Buchanan.

Funds have come from private individuals and high net worth investors, Buchanan said.

No venture capital or private equity firms have subscribed for any shares in QBiotics.

The company said the success of its raising meant QBiotics now had sufficient funds to complete Phase 1 and potentially part of Phase 2 human trials without the need for a further capital raising.

This reduces risk and minimises potential dilution for shareholders who subscribe to this round. If further capital is required to complete Phase 2, it will be raised at a substantially higher valuation.

www.BiotechnologyNews.net