PYC Raising up to $653m to Deliver Human Efficacy Data

• Raising up to ~$653m to support progression of four drug candidates with disease-modifying potential through critical human efficacy read-outs
• New shares issued at $1.50 per share, representing a 6.3% discount to last traded price
• Funded into CY2030 with clinical trial progress and human efficacy data expected in all four drug development programs

PYC Therapeutics Limited (ASX:PYC) is a precision medicine company dedicated to changing the lives of patients with genetic diseases who have no treatment options available. The company is raising up to ~$653m through an equity issue to support the progression of four drug candidates with disease-modifying potential through critical human efficacy read-outs. The fundraising consists of a $128m placement to leading US specialist life sciences investors and a $525m entitlement offer to existing eligible shareholders. The new shares will be issued at $1.50 per share, representing a 6.3% discount to the last ASX traded price and a 3.7% discount to the theoretical ex-rights price. Upon successful completion of the fundraising, PYC will be funded into CY2030 with clinical trial progress and important near-term human efficacy data expected in all four of its drug development programs, including Polycystic Kidney Disease, Phelan-McDermid Syndrome, Retinitis Pigmentosa type 11, and Autosomal Dominant Optic Atrophy.

The proceeds from the Entitlement Offer will be used to fund the progression of PYC's four drug candidates - PYC-003 (ADPKD), PYC-002 (PMS), VP-001 (RP11), and PYC-001 (ADOA) - through to registrational trials.