Starpharma completes capital raise

Company News

Starpharma (ASX: SPL) has completed its Share Purchase Plan (SPP) having raised approximately $1.9 million.

Combining the SPP with the recent institutional placement, which raised $32 million before costs, the company has successfully raised a total of approximately $34 million at $0.73 per share.

Starpharma Chief Executive Officer, Dr Jackie Fairley, said: “We thank our shareholders for their ongoing strong support of the Company. We are very pleased to have such excellent support from both new and existing institutional investors, and retail shareholders. The near $34 million total raised positions us very well for the acceleration of our development and commercialization programs for drug delivery, VivaGel, and agrochemicals.”

All eligible (Australian) directors took up the full $15,000 allocation under the SPP.