Nanotechnology Now

Our NanoNews Digest Sponsors
Heifer International

Wikipedia Affiliate Button

Home > Press > Starpharma completes A$32 million placement; SPP to follow

Abstract:
Starpharma Holdings Limited (ASX:SPL; OTCQX:SPHRY) is pleased to announce it has successfully raised A$32 million via a placement to international and domestic institutional, sophisticated and professional investors ("Placement"). It is intended to offer eligible existing shareholders the opportunity to also participate via a Share Purchase Plan to raise up to a further A$3 million.

Starpharma completes A$32 million placement; SPP to follow

Melbourne, Australia | Posted on November 15th, 2011

The Placement was conducted at the last closing price prior to Trading Halt (A$1.075 per share), and was significantly oversubscribed. There was strong participation in the Placement from existing institutions including large global funds and local investors. The Company is also pleased to welcome to the register a major new international institution which will become a significant shareholder via the Placement.

Funds raised will be used to accelerate and complete both VivaGel® Bacterial Vaginosis Phase 3 Programs (Treatment, and Prevention of Recurrence) supporting an NDA filing and commercial licence, as well as allowing the company to advance multiple product opportunities across its drug delivery and agrochemical programs.

Starpharma Chief Executive Officer Dr Jackie Fairley said: "2011 has seen major advances in all three of Starpharma's key strategic focus areas - VivaGel®, drug delivery and agrochemicals. This capital raising changes the course of the company in terms of our ability to advance these more rapidly in parallel to optimise commercial outcomes."

"We see the outstanding response to this Placement as validation of the significant value of our dendrimer platform, the growing maturity of Starpharma's business, and the increasing commercial momentum across multiple product applications."

Bell Potter Securities Limited and Shaw Corporate Finance Pty Limited acted as Joint Lead Managers to the Placement.

Share Purchase Plan

Starpharma is also pleased to announce that it will offer all eligible shareholders the opportunity to participate in a Share Purchase Plan ("SPP") by subscribing up to a maximum of $15,000 at the same Placement price of $1.075 per share. The amount to be raised under the SPP will be capped at $3 million.

The record date for participation in the SPP is 15 November 2011, and the opening date will be Wednesday 23 November 2011. Full details will be sent to investors in the next week.

Use of funds

The $35 million being raised will significantly strengthen Starpharma's cash balance to over $50 million, allowing the company to accelerate its three key business areas.

####

About Starpharma Holdings Limited
Starpharma Holdings Limited (ASX:SPL, OTCQX:SPHRY) is a world leader in the development of dendrimer nanotechnology for pharmaceutical, life-science and other applications. SPL is principally composed of two operating companies, Starpharma Pty Ltd in Melbourne, Australia and Dendritic Nanotechnologies, Inc in Michigan, USA. Products based on SPL's dendrimer technology are already on the market in the form of diagnostic elements and laboratory reagents.

The Company's lead pharmaceutical development product is VivaGel(R) (SPL7013 Gel), a vaginal microbicide designed to prevent the transmission of STIs, including HIV and genital herpes.

For more information, please click here

Contacts:
BUCHAN CONSULTING
LEVEL 13 499 ST KILDA ROAD
MELBOURNE AUSTRALIA 3004
TEL +61 3 8866 1210
MOB +61 (0) 423 139 163
EMAIL www.buchanwe.com.au

Dr Jackie Fairley
Chief Executive Officer
TEL: +61-3-8532-2704

Copyright © Starpharma Holdings Limited

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Drilling speed increased by 20% – yet another upgrade in the oil & gas sector made possible by graphene nanotubes January 15th, 2019

Chirality in 'real-time' January 14th, 2019

New materials could help improve the performance of perovskite solar cells January 11th, 2019

Media invited to open meeting on the future of quantum technology held at RIT Jan. 23-25: Leaders from NASA, NSF, NIST and Sandia National Laboratory to attend January 11th, 2019

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

180 Degree Capital Corp.’s Portfolio Company, TheStreet, Inc., Agrees to Sell Its Institutional Business Units to Euromoney Institutional Investor PLC for $87.3 Million December 6th, 2018

180 Degree Capital Corp. Reports Net Asset Value Per Share of $2.81 as of September 30, 2018; a Decrease of 3.4% From June 30, 2018 October 29th, 2018

180 Degree Capital Corp. to Report Third Quarter 2018 Financial Results on Monday, October 29, 2018 and to Host a Conference Call on Tuesday, October 30, 2018 October 24th, 2018

180 Degree Capital Corp. Announces New Portfolio Holdings – Airgain, Inc., EMCORE Corporation, Lantronix, Inc. and PDL BioPharma, Inc. October 12th, 2018

Nanomedicine

Chirality in 'real-time' January 14th, 2019

Ultra-sensitive sensor with gold nanoparticle array January 9th, 2019

Arrowhead Pharmaceuticals Begins Dosing in Phase 1 Study of ARO-ANG3 for Treatment of Dyslipidemias and Metabolic Diseases January 7th, 2019

Arrowhead Pharmaceuticals Files for Regulatory Clearance to Begin Phase 1 Study of ARO-APOC3 for Treatment of Hypertriglyceridemia January 7th, 2019

Announcements

Drilling speed increased by 20% – yet another upgrade in the oil & gas sector made possible by graphene nanotubes January 15th, 2019

Chirality in 'real-time' January 14th, 2019

Spintronics 'miracle material' put to the test: Physicists build devices using mineral perovskite January 11th, 2019

Cartilage could be key to safe 'structural batteries' January 11th, 2019

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project