• Raised ~$91 million through the institutional component of the Accelerated Non-Renounceable Entitlement Offer
• Subscriptions received for all New Shares available under the accelerated component
• Company to raise full ~$146 million through the Retail Offer

PYC Therapeutics Limited (ASX:PYC) has announced the successful closure of the institutional component of its Entitlement Offer, raising a total of ~$91 million. The Institutional Entitlement Offer was fully subscribed, with subscriptions received for all New Shares that were available under the accelerated component. The Company will raise a further ~$55 million through the Retail Entitlement Offer, bringing the total amount raised through the Offer to ~$146 million. PYC is now funded to progress its entire pipeline of four first-in-class drug candidates with disease-modifying potential through major human data read-outs. CEO Dr Rohan Hockings commented that the Offer has created an opportunity for the Company to generate human safety and efficacy data for multiple drug candidates in areas of major unmet patient need, and that PYC looks forward to updating investors on these read-outs in the coming 24 months.

PYC is now funded to progress its entire pipeline of four first-in-class drug candidates with disease-modifying potential through major human data read-outs in the next 24 months.

PYC looks forward to updating new and existing investors who supported the Offer through the upcoming human data read-outs for its drug candidates in the next 24 months.