Firebrick Secures Investment from Philippines Partner
| Stock | Firebrick Pharma Ltd (FRE.ASX) |
|---|---|
| Release Time | 16 Oct 2025, 9:53 a.m. |
| Price Sensitive | Yes |
Firebrick Secures Investment from Philippines Partner
- Additional investment received from Philippines strategic partner
- Placement price is $0.085 per Share
- Investment to restore partner's holding above 5% following recent placement
Firebrick Pharma Limited (ASX:FRE) has announced that it has secured an additional investment from its existing strategic investor, Pharma Nutria N.A., Inc. (PNAI), an entity affiliated with the Company's licensing partner in the Philippines, SV More Pharma Corporation. The investment value was $102,000 by way of placement of 1.2 million shares at a price per share of 8.5 cents ($0.085), representing a 31% premium over the closing price of FRE shares on 15 October 2025 of $0.065. The 1.2 million shares will be issued pursuant to the Company's existing placement capacity under ASX Listing Rule 7.1. The Shares to be issued represent approximately 0.5% of current shares on issue (250,371,369). The previous investment by PNAI was for $1.1 million (announcement 4 March 2025). The current investment was requested by PNAI to restore its holding to above 5%, following the Company's recent placement of $1.4 million to other investors (announcement 26 August 2025). The placement was agreed to by the Company on the basis that PNAI was unable to effectively trade on the market to otherwise increase their holding. Director of PNAI, Mr Paul Santillana, expressed the company's pride in further strengthening its partnership with Firebrick Pharma through this additional investment, reflecting their confidence in Firebrick's vision, leadership, and the long-term potential of Nasodine and its broader pipeline. Firebrick's Executive Chairman, Dr Peter Molloy, welcomed the additional investment as a positive signal and expressed gratitude for SV More Pharma Group's ongoing support, looking forward to the approval of Nasodine Nasal Spray in the Philippines next year.