Clinical-stage drug developer Amplia Therapeutics is raising...

Clinical-stage drug developer Amplia Therapeutics is raising $12.4 million to fund early human clinical trials and drug manufacturing for its oral drug candidate designed to slow the progression of cancers.

The early stage pharmaceutical company has appointed Taylor Collison as the lead manager and the raise will take the form of a placement to institutional investors and an entitlement offer.

Amplia will raise $5.4 million via the placement, while the rest will come from a standard non-renounceable rights issue, will be conducted on a one for four basis.

Participants will also receive an attaching option of one option for every three shares applied for under the placement and entitlement offer.

The offer is priced at 18¢ per share, representing a 7.7 per cent discount to the last traded price.

Amplia’s AMP945 drug candidate is an oral inhibitor of a Focal Adhesion Kinase (FAK) - a process which promotes tumour progression and metastasis.

Combined with the company’s $4.3 million in case, $7 million will go toward AMP945’s Phase 1b/2a clinical trial and $2.9 million will go to drug manufacturing. Working capital will also chew up $4 million of the funds.

Pre-offer, major shareholders in the company are Platinum Investment Management (15.9 per cent) and Blueflag Holdings (7 per cent).

Bids are due by 5pm on Thursday. ............


Presumably these results will be released on Monday.

For me it’s great that we ... the shareholders, can participate in the capital raise

If the the trails are successful there will be no looking back particularly if we pick up pharmaceutical company on the way.

Also I think It’s encouraging to have the services of Dr Iglesias .... note he was responsible for the development of Abraxane


But like anything you have to follow your gut instinct and speculate to accumulate ...


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