Captor Therapeutics, a biopharmaceutical company engaged in the development of drugs based on Targeted Protein Degradation (TPD), will raise PLN 40 million in a public offering completed through a private placement conducted on 21-22 September. Investors will receive all offered shares of P series in the number of 400,000 subscribed at the price of PLN 100. The allotment and issue price have been determined as part of the book-building process conducted by PKO BP Biuro Maklerskie, Trigon DM and Trigon Investment Banking. The capital raised by the company will be used to implement the objectives of the 2023-25 strategy.
- We are very pleased with the significant interest in the offering.The demand reported by investors significantly exceeded the number of shares on offer, which is a positive sign for us. Together with our shareholders, we are moving closer to achieving further milestones. The transaction took place in a challenging environment, which further reinforces our success. We will use the capital raised to achieve the objectives of our strategy covering the period 2023-25. Our primary focus is on initiating clinical trials for our most advanced project, CT-01, and we are currently finalising the next key milestones for the project - selection of a Clinical Research Organisation (CRO) partner and the submission of the clinical trial authorisation application this year. With the funds raised, we can focus on entering the clinic. Entering the clinical phase will open up new opportunities for us," comments Dr Tom Shepherd, CEO of Captor Therapeutics.
- From the financial side, this is excellent news and stabilises our cash position in the medium term, in the light of the anticipated increased spending on clinical trials. This also shows that by pursuing an appropriate communication and information policy, it is possible to gain the trust and understanding of investors regarding the company's strategic objectives," concludes Radosław Krawczyk, Chief Financial Officer at Captor Therapeutics
About Captor Therapeutics:
Captor Therapeutics is a biopharmaceutical company specialising in the development of breakthrough drugs based on Targeted Protein Degradation (TPD) technology for the treatment of diseases with high unmet medical needs. TPD enables an innovative approach to drug development that can focus on novel molecular targets thought to be untreatable using conventional drug development methods and provide new treatments for diseases where existing drugs do not provide optimal therapeutic benefit. Currently, Captor is developing drugs for incurable, severe diseases, including malignancies and autoimmune diseases.
More information on Captor Therapeutics can be found:
On the website: http://www.captortherapeutics.com