Cynata has secured commitments for an institutional placement totaling AU$ 8.1 million

Cynata Therapeutics Limited (ASX: CYP) announced securing firm commitments to place 44,444,445 new, fully paid ordinary shares at an attractive AU$0.18 per share offer. This initiative is set to generate total proceeds of AU$8 million, a substantial boost for the company. Additionally, pending shareholder approval at a general meeting in early 2025, Cynata plans to issue 638,886 new shares to its directors at the same price, raising an extra AU$ 0.1 million.

This strategic placement follows the successful completion of its Phase 1 clinical trial of CYP-006Tk, which targets Diabetic Foot Ulcers. The robust support from new and existing investors underscores their confidence in Canada’s diverse clinical portfolio and exciting opportunities. The company anticipates rolling out results from its Phase 2 acute graft-versus-host disease trial, Phase 3 osteoarthritis trial, and Phase 1/2 kidney transplant trial within 18 months. With a strengthened financial position, Cynata is poised to confidently propel its innovative therapies to the next level of development.

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