Percheron Raises $2.2 Million for HMBD-002 Program
Key points
- Successful completion of $2.2 million non-renounceable entitlement offer
- Proceeds to enable significant progress in HMBD-002 phase II trial in 2026
- Positive investor support, with full allocation of shortfall securities
Full summary
Percheron Therapeutics Limited (ASX:PER) has announced the successful completion of its $2.2 million non-renounceable entitlement offer. The company received strong support from both existing and new shareholders, with the full allocation of shortfall securities. The proceeds from the offer will enable Percheron to make significant progress in the development of its lead program, HMBD-002, a monoclonal antibody targeting the immune checkpoint regulator VISTA. Percheron plans to commence a phase II clinical trial for HMBD-002 in 2026. The company will be presenting data from the phase I trial of HMBD-002 at the upcoming American Association for Cancer Research Annual Meeting, as well as new preclinical data from a collaboration with QIMR Berghofer at the American Society of Clinical Oncology Annual Meeting.
Outlook
The company expects the proceeds from the successful entitlement offer will enable it to make significant progress in the development of HMBD-002, where it is working towards a phase II trial in CY2026.
Summary generated by a large language model. Please interpret with care.