Clinical stage oncology company Prescient Therapeutics Limited (ASX: PTX) has completed a $7 Million AUD PIPE with institutional and sophisticated investors. According to the update, the placement involved the issue of approximately 140 million shares, each at $0.05, largely to institutional investors. ROTH Capital Partners acted as U.S. placement agent for the transaction. “Prescient is delighted with the support from its existing shareholders, and is very pleased to welcome new shareholders to the Company, including new US and Australian institutional investors with particular expertise in life science investing,” PTX CEO Steven Yatomi-Clarke said in the news release. “It is encouraging that such reputable investors recognize the quality of potential of Prescient’s programs. This funding will see the Company through to important milestones.”
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About Prescient Therapeutics Limited
Prescient Therapeutics is a clinical stage oncology company developing targeted therapies that address specific mutations that drive cancer and contribute to resistance. PTX-100 is a first in class compound with the ability to block an important cancer growth enzyme known as geranylgeranyl transferase-1 (“GGT-1”). PTX-200 is a novel PH domain inhibitor that inhibits an important tumor survival pathway known as Akt, which plays a key role in the development of many cancers, including breast and ovarian cancer, as well as leukemia. For more information, visit the company’s website at www.PTXTherapeutics.com.
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