Patrys has today announced a $7.8 million capital raising via a Placement and fully underwritten Rights Issue.
These funds will significantly strengthen Patrys’ balance sheet, providing for:
- Initiation of a formal development program for PAT-DX3, Patrys’ full-sized IgG deoxymab antibody, that is expected to provide Patrys with additional development and partnering opportunities;
- Development of a manufacturing process to provide clinical‑grade PAT-DX3 at commercial scale including establishing a stable, high-yielding producer cell line.
- Further R&D studies including use of deoxymabs for targeted delivery to support potential inhouse and partnered programs for antibody drug conjugates (ADCs);
- Expansion of the Company’s business development activities, working capital, corporate activities, and offer costs.
Territory Funds Management has strongly supported this capital raise and we are pleased to offer existing shareholders an opportunity to invest in this exciting growth opportunity too via the fully underwritten 1:12 Rights Issue.