Chimeric Therapeutics announces plans for a capital raise

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Cell therapy company Chimeric Therapeutics (ASX:CHM) has announced it plans to raise $18.1 million via an accelerated 1 for 3.15 non-renounceable entitlement offer of fully paid ordinary shares.

The offer price of $0.17 per new share represents a 15 per cent discount to the company's closing price on 18 February 2022.

The company said it intends to use the proceeds to fund payments under the company’s licence and sponsored research agreements as well as Phase I clinical trials.