PAR.ASX: Drawdown of Tranche 4 under the Convertible Note Facility

Drawdown of Tranche 4 under the Convertible Note Facility

Stock	Paradigm Biopharmaceuticals Ltd (PAR.ASX)
Release Time	13 Jul 2026, 1:14 p.m.
Price Sensitive	Yes

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Paradigm Biopharmaceuticals Completes $3M Tranche 4 Drawdown

Key Points

Paradigm Biopharmaceuticals completed the drawdown of Tranche 4, valued at US$3 million
Additional capital supports ongoing Phase 3 clinical trial for knee osteoarthritis
Approximately $7 million remains available under the Convertible Note Facility

Full Summary

Paradigm Biopharmaceuticals Ltd. (ASX: PAR) has completed the drawdown of Tranche 4, valued at US$3 million (approximately A$4.6 million), under its US$27 million (A$41.2 million) Convertible Note Facility with Obsidian Global Partners, LLC. This additional working capital supports the continued execution and scaling of Paradigm's global Phase 3 clinical trial (PARA_OA_012) for knee osteoarthritis. The drawdown follows the successful completion of participant enrolment into the study, with 538 participants randomized. The remaining capital under the facility will support ongoing patient treatment, follow-up assessments, database management, regulatory activities, and clinical operations.

Guidance

Approximately US$7 million remains available under the Convertible Note Facility.

Outlook

The drawdown aligns with the next phase of the program, supporting ongoing patient treatment and clinical operations as Paradigm advances towards the interim analysis and subsequent top-line primary endpoint readout.