PHYLOGICA SHARE PLACEMENT RAISES $2.15 MILLION
PERTH, AUSTRALIA: December 14, 2011 – Phylogica Ltd (ASX: PYC, XETRA:
PH7), an Australian peptide drug discovery company, announced today that it has
successfully completed a $2.15 million share placement before capital raising costs,
via a placement to institutional and sophisticated investors of 40,533,333 million
ordinary shares at an issue price of $0.053 per share. For every three shares issued
under the share placement, Phylogica will issue two free attaching listed options
(ASX: PYCOA).
RBS Morgans acted as Lead Manager to the capital raising.
Placement documentation and funds are being completed and the issue of the
shares will be completed as soon as possible.
Phylogica’s business model of collaborative drug discovery utilising its Phylomer®
peptide libraries aims to drive revenue growth and to build long-term value. In 2011,
the Company has announced progress in all three of its partnerships with,
respectively, Roche, Pfizer and MedImmune, the biologics arm of AstraZeneca.
Furthermore, Phylogica aims to secure three new alliances in the financial year
ending 30 June 2012.
The Company remains on track with its strategy to achieve cash sustainability in
2012/2013. The new funds will be used to enhance the Company’s drug discovery
infrastructure, invest in in-house programmes and support operational activities.
Settlement of the placement is expected on Tuesday, 20 December 2011, with
shares to be allocated the same day.
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