Patrys has announced that it has received commitments for a capital raising of up to approximately $308,362 before costs, by way of a placement of new shares (and attaching options) to sophisticated and professional investors. Funds raised will be used for general working capital purposes and to fund the offer.
This funding allows the Company to maintain its business development activities for the deoxymab program, providing financial leeway until the expected receipt of the Federal government’s R&D rebate in the second half of 2025. The Company is also evaluating complementary assets that could be used to cost-effectively achieve key value-creation milestones.
The Company has also announced some changes to the Patrys Board, with the appointment of Dr Anton Uvarov as a non-executive director and Mr Peter Christie as Chair, effective 17 June 2025.
Mr Peter Christie is a qualified accountant and tax agent with over 25 years of public accounting experience who has served on multiple resource sector company boards since 2006 and developed interests in hospitality and property development. As Director of Hawkins Christie Management Services in Nedlands, Western Australia, and President of South Fremantle Football Club since 2018, he brings extensive expertise in finance, corporate governance, and community leadership, including previous experience as Chairman of Safety Medical Products Limited.
Dr Anton Uvarov is a healthcare sector expert with a neuroscience focus who began his career as a biotechnology equities analyst at Citigroup before co-founding and directing several ASX-listed companies including Dimerix (ASX:DXB), Actinogen Medical (ASX:ACW), and BlinkLab (ASX:BB1), a digital autism diagnostics company where he serves as Executive Director. He currently serves as Non-Executive Director of Neuroscientific Biopharmaceuticals (ASX:NSB) and previously served on the board of late-stage clinical oncology company Imugene (ASX:IMU).
The Company also wishes to advise shareholders of the retirement of Dr Charmaine Gittleson and Dr Pamela M Klein, who have resigned as directors of the Company, effective 17 June 2025.
Additionally, as part of the Company’s management review, the position of Chief Executive Officer will be made redundant and the Company will be managed by the Board of Directors. It is anticipated that Dr James Campbell will remain on the Patrys board as a non-executive director.