Chimeric Therapeutics (ASX:CHM) Announces $6.6 Million Placement to Advance Clinical Trials
Capital Raising Details
Chimeric Therapeutics has raised $6.6 million through a two-tranche placement to institutional, sophisticated, and professional investors, including cornerstone support from a US-based family office. The placement comprises approximately 1.65 billion new shares at $0.004 per share, along with unlisted options exercisable at the same price. Tranche 1 includes 164.3 million shares, expected to be allotted on 26 May 2025, while Tranche 2 consists of 1.49 billion shares pending shareholder approval in July 2025.
Use of Funds
The proceeds will primarily support the advancement of the CHM CDH17 CAR-T clinical trial and CORE-NK clinical trials. Additionally, funds will be allocated to general working capital and costs related to the capital raising.
Executive Comments
Dr Rebecca McQualter, Chimeric Therapeutics’ Chief Executive Officer, commented: “We are very pleased with the strong response from investors, having raised substantially more than initially targeted. This support highlights the market’s confidence in our cell therapy programs and strengthens our position to accelerate our promising programs towards further key clinical milestones.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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