Tetratherix (ASX:TTX) has raised $15 million through a placement to institutional investors and announced a share purchase plan to raise up to a further $2 million from eligible shareholders.
The placement was conducted at $6 per share. Proceeds will be directed to expand production capacity, deepen strategic partnerships, build customer success capability, accelerate digitalisation and support working capital and transaction costs.
Chief executive Will Knox said, "This $15 million capital injection, backed by exceptional demand from both existing and new institutional partners, is a definitive validation of Tetratherix’s technical, commercial and organisational advantages. The market has recognised the compounding value of our Tetramatrix polymer platform, attracting world-class investors. We are scaling a highly integrated, increasingly digitalised, and fundamentally unique medical technology platform.
"This capital further secures a fully funded, exciting runway as we rapidly transition to commercialisation in 2026. It allows us to immediately supercharge our production mechanics, expand our strategic partnership ecosystem, and embed comprehensive customer success infrastructure to capture global market share with our partners. Over the past 12 months, our industry-leading team has demonstrated relentless operational execution by consistently hitting our commercial, clinical and development milestones. We enter this next chapter with immense momentum as we aggressively commercialise our platform to deliver value."
The company's platform is a water-based injectable polymer system that forms a biostealth hydrogel at body temperature conditions and is being developed across franchises for bone regeneration, tissue spacing, and tissue healing.
Tetratherix highlighted progress since its IPO, including a cash position of $19.2 million as at 31 March 2026 and completion of multiple regulatory and clinical milestones, such as ongoing FDA work for dental and orthopaedic applications and encouraging clinical readouts for oncology spacer and tissue healing programs.
Tetratherix also announced a strategic research and development agreement with Superpower Health, a US precision health company. Superpower will pay Tetratherix US$3 million per annum in licence fees, plus polymer sales revenue, for up to ten years. The company said this arrangement makes the new precision medicine franchise immediately revenue-generating in the current financial year and provides a real-world commercial channel for exploring intranasal and subcutaneous delivery applications using the same polymer branded STEPP.
Use of proceeds from the placement and share purchase plan is budgeted at $15 million, said Tetratherix, with approximately $6.8 million earmarked for production expansion, $2.9 million for customer success resourcing, $1.7 million for strategic partnerships, $1.5 million for digitalisation, $1 million for working capital, and $1.1 million for offer costs.