11 July 2014
PHOSPHAGENICS' $19.3 MILLION CAPITAL RAISING
Phosphagenic Limited has raised $19.3 million via a placement of $16.3 million to insitutional and sophisticated investors in Europe, USA, Asia and Australia and $3 million from a share purchase plan (SPP) to be offered to existing shareholders. The placement of $16.3 million will be made in two tranches.
Includes $3 million Share Purchase Plan
- Upcoming opioid pain patch trials fully funded
"This capital raising positions us strongly to fulfil our commercialisation objectives and fully funds our scheduled TPM®/opiod clinical trial programs. The capital raised is earmarked for our pivotal TPM®/Oxymorphone Phase 2 clinical trial in the USA scheduled for the first half of 2015 and our upcoming TPM®/Oxycodone Phase 2 trial in Australia," said CEO, Harry Rosen.
21 May 2014
PHOSPHAGENICS' TOPICAL OXYCODONE PATCH ALLEVIATES PAIN IN RACEHORSES
- Rapid and effective relief for all racehorses in study
- Positive implications for upcoming Phase 2 TPM®/Oxycodone trial
A Phosphagenics study using its TPM®/Oxycodone topical patch to manage shin soreness pain for thoroughbed racehorses found recovery from pain in all horses within 1-2 days.
The study was conducted on six thoroughbreds, between two and three years of age, exhibiting cannon (shin) bone soreness arising from injuries in either one or two limbs, with a patch applied daily to each injured limb for ten days.