ChemGenex raises $12.9m
Wednesday, 17 September, 2008
ChemGenex [ASX: CXS] has completed a $12.9 million capital raising through a share placement to institutional investors.
15.2 million shares were sold at $0.85 per share. Over half of these shares were purchased by existing major ChemGenex shareholders.
The company is also offering existing Australian shareholders the ability to participate on the same terms.
Existing major shareholders Alta Partners, GBS Venture Partners and Merck Snate committed $6.5 million.
The funds will be used for ChemGenex’s clinical trial program of its lead drug candidate, omacetaxine, for chronic myeloid leukaemia.
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