Cambium Bio has secured a $10.85 million funding package for the pivotal Phase 3 trial of its dry eye treatment Elate Ocular.
The clinical-stage company announced that it has received firm commitments to raise $7.1 million, or US$5 million, through a conditional placement of 14,791,667 new fully paid ordinary shares at $0.48 each. That price sits at a 4.3 per cent premium to the closing price of $0.46 on 15 September 2026.
Four participants are taking part. The company's largest shareholder and long-standing strategic partner, Zheng Yang Biomedical Technology, is subscribing for 4,677,444 shares at a cost of $2,245,173.12, enough to hold roughly steady at 35.06 per cent after the raising, down slightly from 36.78 per cent. Existing shareholder Chun Yi Wu, known as Brandon Wu, is taking 2,733,363 shares for $1,312,014.24. Two new investors are also coming onto the register, with Yi Chi Wu subscribing for 5,901,693 shares at $2,832,812.64 and Shu Chin Hsu, known as Tiffany Hsu, taking 1,479,167 shares for $710,000.16.
Chief Executive Officer Karolis Rosickas said, "This placement brings together continued support from our largest shareholder, ZYBT, and from Mr Wu, alongside new investment from Ms Wu and Ms Hsu, and reflects sustained confidence in Elate Ocular and our pivotal Phase 3 program. Together with the RDTI pre-financing facility, it gives Cambium Bio an $10.85 million funding package to initiate and run the pivotal trial. We look forward to putting the placement resolutions to shareholders at our Annual General Meeting."
Elate Ocular is built on the company's proprietary human platelet lysate technology. Cambium also runs a stem cell platform, Progenza, aimed at knee osteoarthritis and other tissue repair indications.
