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Viralytics completes $27M institutional fund raising for melanoma clinical trials

Viralytics completes $27M institutional fund raising for melanoma clinical trials

Viralytics Limited (ASX:VLA, OTC:VRACY) has welcomed new institutional investors as part of its now completed $27.1 million capital raising, via issue of 97 million shares at $0.28.

The capital raised will fully fund the company through 2016 including its clinical trial programs.

Viralytics currently has a Phase 2 intratumoural trial in melanoma patients, and a Phase 1/2 intravenous trial in solid cancer types ongoing.

A randomised melanoma clinical trial is currently in development to evaluate Viralytics lead product CAVATAK in late-stage cancer patients.

Bell Potter Securities acted as the Lead Manager of the equity offering with Roth Capital Partners acting as the Sole US Placement Agent.

With this potentially transformational capital injection, Viralytics plans to generate new clinical data for CAVATAK across a number of cancer types.

Shares in the company last traded at $0.34, and is now capitalised at around $70 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Viralytics Timeline

Newswire
December 10 2015

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