On May 4, 2021 Amplia Therapeutics Limited (ASX: ATX) ("Amplia" or the "Company") reported that it has completed a Private Placement ("Placement") of new shares to new and existing institutional and sophisticated investors (Press release, Amplia Therapeutics, MAY 4, 2021, View Source;TE [SID1234579120]). The Placement will raise a total of approximately $3.8 million at an issue price of $0.23 per new, fully paid, ordinary share representing a 10.0% discount to the 15-day volume weighted price of shares traded up to 29 April 2021.
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A total of 16,585,000 new shares will be issued within the Company’s placement capacity under ASX Listing Rules 7.1 and 7.1A. The new shares are expected to be issued on 7 May 2021.
The placement was strongly supported by the Company’s largest shareholders, Platinum Investment Management Ltd. and Blueflag Holdings Pty Ltd. A new institutional shareholder, Acorn Capital, also participated in the Placement.
The proceeds from the Placement will be used to fund enabling activities for the Company’s planned Phase 2 clinical trials in pancreatic cancer and pulmonary fibrosis and provide working capital for the Company. The Phase 2 enabling activities include manufacture of drug substance and drug product, conduct of additional toxicology studies to support extended dosing in pulmonary fibrosis patients and clinical planning and lodgement of regulatory filings to support clinical trials in patients with pancreatic cancer.
Commenting on the results of the Placement, Amplia’s Chief Executive Officer DrJohn Lambert said "We are delighted to receive the continuing support of existing investors as well as to welcome new investors to our register. Over the last year, Amplia has put in place the necessary foundations for our planned Phase 2 clinical program for AMP945. Specifically, the recent completion of dosing in our Phase 1 trial of AMP945 together with the exciting results we have seen in our parallel non-clinical studies have provided the clinical safety data and preclinical rationale needed for us to push forward into Phase 2 clinical studies."
Taylor Collison acted as Lead Manager for the Placement.
This ASX announcement was approved and authorised for release by the Board of Amplia Therapeutics.