Melbourne, Australia – Exopharm Limited (ASX:EX1) has finalised a A$4.44 million share placement to new institutional and sophisticated investors. A further Share Purchase Plan (SPP) to existing shareholders has a target raise of A$2.7m.
The funds raised under the Placement and SPP will be used to accelerate Exopharm’s development activities across manufacturing, testing and development of additional intellectual property – each aimed at validating Exopharm’s products and technologies and attracting partnership deals.
Recent Human Research Ethics Committee approval enables Exopharm to commence the first-in-human clinical trial for Plexaris in wound healing, as announced on 22 July 2019. As a clinical stage company, Exopharm has an opportunity to accelerate other development programs and initiatives.
Dr Dixon, Founder CEO and Managing Director of Exopharm said “The support from new and existing shareholders is welcome. We have made significant progress quickly since the December ’18 IPO. As a clinical stage company we now need to accelerate all aspects of our activities to capitalise upon our leadership position in this growth area of cell free regenerative medicine.”
Read the full Placement and SPP ASX Announcement.
PLEXOVAL is a world-first study using cell free exosome product manufactured using Exopharm’s LEAP Technology. This study is a part of Exopharm’s strategy to demonstrate its capabilities in manufacturing, clinical testing and scientific review.
Read the full ASX Announcement here: https://exopharm.com/asx-announcements/
The raised funds are mainly being used to advance the Development Plan, which includes clinical trials (pre-clinical and clinical) for Plexaris and Exomere products.
These products are exosomes that are derived from human platelets in relation to Plexaris, and adult stem cells in relation to Exomeres, and purified using the LEAP Technology and referred to as biologic products.
There are plans for:
allogeneic (unmatched) Plexaris for wound healing (CY ’20); and
allogeneic (unmatched) Exomere for osteoarthritis (OA) (TBA)
For further details read the full Investor Deck ASX Announcement.
Exopharm Limited is a clinical stage Australian regenerative medicine biopharmaceutical company which is listed on the Australian Securities Exchange (ASX:EX1) Exopharm seeks to develop and commercialise exosomes as therapeutic agents – initially a product called Plexaris™ and later a product called Exomeres™.
As its primary focus, Exopharm aims to be a leader in the field of human therapeutics using exosomes as regenerative medicine products for heath span related conditions.