PYC Therapeutics Launches AU$145.8 Million Entitlement Offer to Fund Clinical Pipeline.

PYC Therapeutics Limited (ASX: PYC) is undertaking a 1-for-4 pro-rata accelerated non-renounceable entitlement offer at AU$1.25 per share, aiming to raise approximately AU$145.8 million. The offer includes an institutional and retail component for eligible shareholders in Australia and New Zealand. PYC Chairman Alan Tribe intends to subscribe for AU$35 million in new shares. The successful completion of this capital raise will allow PYC to generate human safety and efficacy data for its three clinical-stage assets while advancing a fourth drug candidate into human trials. 

The company's pipeline focuses on disease-modifying treatments for conditions with no established standard of care, targeting unmet medical needs. PYC’s programs include VP-001 for Retinitis Pigmentosa 11, PYC-001 for Autosomal Dominant Optic Atrophy, PYC-003 for Polycystic Kidney Disease, and PYC-002 for Phelan-McDermid Syndrome. The funding ensures progression through key milestones, with clinical efficacy data for VP-001 expected in Q2 2025.

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