Pharmaxis Announces A$24m Placement

6th Aug 18

Release Date: 06/08/2018 8:30am


  • A$24.0m being raised in a two tranche placement to global sector specialist and institutional investors
  • A$54m pro-forma cash balance post raising. Strengthened balance sheet to assist with LOXL2 partnering negotiations expected in 2H18 Issue price of A$0.325 represents a 3.1% premium to last closing price
  • Arix Bioscience plc invests A$14.2m for a 11% holding in the Company
  • Existing shareholder BVF Partners LP invests A$7.1m to increase its holding to 22.9%
  • Arix Investment Director Edward Rayner to be nominated to join the Pharmaxis Board

Read full media release - pdf

Categories: News and Media