#Australia #Argent BioPharma #CannEpil #Perth #neuro-immunology

Argent BioPharma Secures US$4.5 Million to Drive Innovation in Biopharmaceuticals

On January 7, 2025, Argent BioPharma Ltd. (ASX: RGT, OTCQB: RGTLF) proudly announced the successful completion of a capital raise amounting to an impressive US$4.5 million, which will significantly bolster its efforts to develop innovative biopharmaceutical treatments. This funding round highlights the company’s commitment to addressing critical unmet medical needs, particularly in the areas of central nervous system (CNS) and immune-related disorders.

The capital was acquired through the subscription of 5,625,000 Units, with each Unit priced at US$0.80 (approximately A$1.28). Each of these Units comprises two fully paid ordinary shares, which are referred to as Placement Shares, along with a free-attaching warrant that investors can exercise at US$0.55 (~A$0.88) within three years of issuance.

The fundraising effort will proceed in two tranches. The first tranche includes 5,000,000 Placement Shares and 2,500,000 Warrants issued immediately, based on the company’s existing placement capacity under ASX Listing Rules 7.1 and 7.1A. The second tranche, however, comprising 6,250,000 Placement Shares and 3,125,000 Warrants, remains subject to forthcoming shareholder approval following a general meeting.

Notably, the Placement Shares have been issued at a remarkable price of US$0.40 (~A$0.64), which reflects a substantial premium of around 370% over the 15-day volume-weighted average price (VWAP) of A$0.173, as well as a striking 377% increase from the last closing price of A$0.17 prior to the trading halt instituted on January 3, 2025. This significant uptick in valuation showcases market confidence in Argent BioPharma's forward-looking vision and strategies.

Funding Use and Strategic Overview

The proceeds from this capital raise are earmarked for the advancement of Argent BioPharma’s drug development pipeline, with a major emphasis on CannEpil®—its flagship product, along with planned clinical studies to evaluate its efficacy and safety.

In line with these developments, the company is also undertaking a thorough strategic review of its operational and administrative frameworks to ensure sustainability in its operations—this follows their recent delisting from the London Stock Exchange (LSE) and sets the groundwork for a forthcoming US National Listing.

Argent BioPharma's achievements are underpinned by its innovative focus in neuroimmunology, developing advanced nano-medicines designed to tackle the void in effective treatments for CNS disorders and immune-related conditions. This innovative approach incorporates cutting-edge technologies such as the Neuro-Immune Modulatory (NIM) System, which is pivotal in harmonizing the nervous and immune systems, thereby improving patient outcomes.

The company boasts a robust pipeline that includes promising candidates like CannEpil®, CognCann®, and CimetrA®, which aim to address complex diseases characterized by ineffective treatment options. Argent BioPharma's commitment is not just to science but also to fostering patient-centered outcomes, representing a notable shift in the landscape of care for patients suffering from chronic and inflammatory as well as neurodegenerative diseases.

As Argent BioPharma moves forward with these developments, potential investors and interested stakeholders can keep abreast of updates through their social media platforms, including LinkedIn and Twitter. The management of Argent BioPharma is keen on transparently communicating its progress and innovations as it continues to shape the future of biopharmaceutical care.

For additional information, inquiries may be directed to Roby Zomer, CEO and Managing Director, or Rowan Harland, the Company Secretary, both reachable at the provided contact numbers and emails. Argent BioPharma looks poised to make significant advancements in the biopharmaceutical arena, reflecting its mission to revolutionize treatment modalities for complex health conditions.