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OncoSil Medical Limited Raises $10 Million For Pancreatic Cancer Study


Thursday, 12 Sep 2013 07:45pm EDT 

OncoSil Medical Limited announced that it is undertaking a capital raising to raise approximately $10.3 million to fund the global Registration Study for its OncoSil localised radiation therapy for the treatment of pancreatic cancer. The capital raising will be conducted in two parts, as follows: A placement to institutional and wholesale investors to raise $7.825+ million via the issue of 60,197,319 ordinary fully paid OncoSil Medical shares at an issue price of 13 cents per share (Placement). Commitment for the Placement was heavily oversubscribed, and A Share Purchase Plan (SPP) to eligible shareholders to raise up to $2.5 million via the issue of up to 19,230,769 ordinary fully paid OncoSil Medical shares, also at an issue price of 13 cents per share. The SPP will be capped to $2.5m and will be scaled back according to a first come first serve basis. The record date for entitlements to participate in the SPP is September 16, 2013. The funds raised will be used to advance the clinical program of OncoSil Medical’s lead product candidate, OncoSil, in particular a major global Registration Study, which will enrol 100-300 patients, due to commence in early 2014. 

Company Quote

0.105
-0.015 -12.50%
29 Aug 2014