• Placement to raise up to $3.75 million at $0.09 per share
• Funds will be used to launch ColoSTAT® Multiplex test and accelerate geneType™ portfolio
• Placement supported by existing and new institutional, professional and sophisticated investors

Rhythm Biosciences Ltd (ASX:RHY), a transformative, predictive cancer diagnostics technology company, has announced a capital raising comprising a share placement to raise circa $3.75 million (before costs). The placement will involve the issue of approximately 41.7 million new fully paid ordinary shares at $0.09 per share, together with one option (with an exercise price of $0.20, expiring on 30 Nov 2027) for each new share issued, subject to shareholder approval. The offer price represents a 14.3% discount to the last closing price, a 21.3% discount to the 5-day VWAP, and a 24.8% discount to the 15-day VWAP. The funds raised will be used primarily to complete the development of the new ColoSTAT® Multiplex colorectal cancer test, accelerate the commercialization of the geneType™ cancer risk assessment portfolio, continue R&D pipeline development into other cancers, and for general working capital purposes. The placement was strongly supported by existing and new institutional, professional and sophisticated investors. Directors, including the CEO/MD, Chair-Elect, and Retiring Chair, have agreed to subscribe for up to $0.3 million in the placement as a show of faith in the company and its valuation.

The company has not provided any high-importance, price-sensitive forward-looking financial metrics or guidance.

The company has not provided any detailed forward-looking outlook statements.