Partners13 Aug 2019 14:52
The net proceeds of the Capital Raising will primarily be used to fund further clinical development of Clevegen by:
· Completing part I of the MATINS trial to determine the maximum tolerated dose and optimal dose for part II, and to initiate cohort expansion in colorectal cancer ("CRC") in Q4 2019
· Providing working capital whilst Faron seeks to negotiate and enter into a licensing agreement in respect of Clevegen in H2 2019
In addition, the net proceeds of the Capital Raising will be used to fund the commercialisation preparation of Traumakine by seeking scientific advice and regulatory approval for the CALIBER study in H2 2019.