Perth-based PYC Therapeutics is battling to complete its $146 million capital raising after a large shortfall from retail investors and a “liquidity” issue by one of its underwriters.
Biotech company Phylogica announced it had increased its shareholding in Vision Pharma to 90 per cent, following a $15 million investment using funds it had raised through a recent rights issue.
Biotech company Phylogica has announced plans to raise $26.8 million through a rights issue, fully underwritten by chairman and major shareholder Alan Tribe, with the proceeds used primarily to fund preclinicial studies for its leading drug molecule.
Phylogica has announced a commercial collaboration with Lions Eye Institute trading under the name Vision Pharma, bringing the biotechnology company a step closer to commercialising its drug delivery technology.
Shares in biomedical technology business Phylogica were up 13 per cent today after the company announced it had completed a $9.1 million recapitalisation.
Former IKEA franchise owner Alan Tribe has taken charge at local biotech firm Phylogica, lifting his stake to 20 per cent and becoming chairman on the same day chief executive Stephanie Unwin was replaced by Rohan Hockings.