Island Pharmaceuticals Secures AU$3.5 million in Capital to Advance Clinical Pipeline

Highlights:

• Successful Capital Raise: Island Pharmaceuticals Ltd (ASX: ILA) has secured AU$3.5 million in funding through a two-tranche placement at AU$0.07 per share.
• Clinical Advancement: The funds will support the completion of the ISLA-101 Phase 2a/b clinical trial for dengue fever and advance the due diligence on the Galidesivir antiviral therapeutic.
• Strong Investor Support: The placement attracted key investors, including biotech expert Dr. Daniel Tillett and fund manager Angus Walker, reflecting confidence in Island's strategic growth.

Key Funding Boost

Island Pharmaceuticals Ltd (ASX: ILA) has successfully secured AU$3.5 million in new funding through a two-tranche placement at AU$0.07 per share. This capital raise is supported by both existing and new investors, allowing the company to progress critical clinical developments. The placement includes one option for each new share, exercisable at AU$0.07, with half expiring in 12 months and the other half in 24 months, subject to shareholder approval.

Pipeline Expansion and Strategic Focus

The capital injection will enable Island Pharmaceuticals to fund key initiatives, such as completing the Phase 2a/b clinical trial for ISLA-101, targeting dengue fever. Additionally, the funding will support the due diligence process for the company's antiviral therapeutic, Galidesivir, and provide resources for a potential acquisition if it proceeds.

Investor Confidence Grows

Prominent investors such as biotech expert Dr. Daniel Tillett and fund manager Angus Walker, alongside company co-founder Dr. Bill Garner, have shown strong support. CEO Dr. David Foster expressed optimism, noting that this capital raise strengthens Island’s position at a crucial stage in its development.

At the time of writing, this capital raise positions Island Pharmaceuticals to achieve key milestones in its drug development strategy and ensure long-term growth in its antiviral therapeutic pipeline.

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