Investor Centre

Pharmaxis (ASX: PXS) today announced that it had filed a minor resubmission with the Pharmaceutical Benefits Advisory Committee (PBAC) for its new drug Bronchitol for the treatment of cystic fibrosis.  The submission will be considered at the Committee’s next meeting scheduled to take place in March 2012. A recommendation by PBAC is required for listing on the Australian Pharmaceutical Benefits Scheme (PBS).

Pharmaxis (ASX: PXS) is pleased to announce that its Phase III, DPM-B-305 study of inhaled Bronchitol, for the treatment of people with bronchiectasis, has reached its pre-specified recruitment target.

This major Phase III clinical trial received input from both the US and the EU regulators on its design.  The trial will show if treatment with Bronchitol over twelve months leads to a reduction in pulmonary infectious episodes for people with bronchiectasis.  In addition, the trial will collect data on quality of life, lung function and other aspects of the condition.

Pharmaxis today announces that the Retail Entitlement offer closed at 5.00pm (Sydney time) on 8 December 2011 and will raise approximately $31 million. Eligible retail shareholders subscribed for 13,815,725 new shares (approximately $14.5 million) under the Retail Entitlement Offer representing a subscription rate of approximately 47%. All eligible retail shareholders who subscribed for new shares in excess of their pro-rata entitlement will be allocated the full amount of their application.  Settlement of these new shares under the Retail Entitlement Offer will occur on the second settlement date of 15 December 2011.

The balance of 15,490,841 new shares (approximately $16.3 million) comprising of shares not subscribed for by eligible retail shareholders and the entitlements of ineligible retail shareholders will be issued to the sub-underwriters of the Retail Entitlement Offer, which have sub-underwriting agreements in place with the Underwriters and include a number of existing shareholders of Pharmaxis.