News and Announcements
$10 Million Institutional Placement to Drive OncoSil Commercialisation
- Published February 03, 2016 2:41PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
3rd February 2016, ASX Announcement
OncoSil Medical Limited (ASX: OSL) (OncoSil Medical, the Company) is pleased to announce a A$10 million Institutional Placement (Placement) to drive commercialisation of the Company’s lead product candidate, the OncoSilTM localised radiation treatment for cancer.
The Placement is by way of Subscription Agreement for approximately 45,454,545 new Ordinary Shares in OncoSil Medical at a price of A$0.22 per share to raise $10 million.
The Company is delighted to receive this level of investment and financial backing at this point and time, and views it as strong validation for the OncoSilTM brachytherapy technology and its global commercialisation potential.
The Placement funds will be used to aggressively drive OncoSil Medical’s commercialisation plans to position OncoSilTM as an innovative, new medical radiation treatment for pancreatic cancer and other solid tumours – which have major un-met medical needs.
To read the full announcement, please click here.
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