Antisense Therapeutics Limited (ANP) is pleased to announce that it has agreed to issue, through a placement to existing major shareholders – Firebird Global Master Fund and Circadian Technologies Ltd as well as to Canadian merchant bank PowerOne Capital Markets Limited and clients, 37.5 million ordinary fully paid new shares in ANP at 6 cents per share to raise A$2.25 million. For every two new shares issued under this placement there is one option attached which is exercisable at 10 cents on or before 30 September 2009.
Antisense CEO Mark Diamond said “We are delighted to receive this continued support from our major shareholders for our business and the many opportunities ahead as we continue with our mission to create, develop and commercialise antisense pharmaceuticals for a variety of disease targets.”
Antisense Therapeutics Limited (ASX: ANP) is an Australian publicly listed biopharmaceutical drug discovery and development company. Its mission is to create, develop and commercialise antisense pharmaceuticals for large unmet markets. ANP has two drugs in development and two drugs in pre-clinical research. ATL1102 (injection) is in the advanced stages of a Phase IIa trial as a potential treatment of multiple sclerosis. ATL1103 is a second-generation antisense drug designed to lower blood IGF-I levels and is entering pre-clinical development as a potential treatment for acromegaly and vision disorders. ATL1102 (inhaled) is at the pre-clinical research stage as a potential treatment for asthma. ATL1101 is a second-generation antisense drug at the pre-clinical research stage being investigated as a potential treatment for prostate cancer. ATL1102 has been licensed to Teva Pharmaceutical Industries Ltd.
For more information:
Managing Director – Mark Diamond +61 3 9827 8999
Investor Relations – Market Connect Pty. Ltd. (Simon Watkin) +61 3 9863 7797 or 0413 153 272