Pharmaxis Ltd (Pharmaxis or the Company) (ASX: PXS) today announced a 1 for 3 pro-rata accelerated non-renounceable entitlement offer to eligible shareholders to raise up to approximately $80 million (Entitlement Offer).

The Entitlement Offer is underwritten to $40 million by Merrill Lynch International (Australia) Ltd and Wilson HTM Corporate Finance Ltd.  

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