SYDNEY, Aug. 8, 2016 /PRNewswire/ --
* ASX Ticker Code: NOX
Australian drug development company Noxopharm will begin trading on the ASX on Tuesday 9th August 2016 at 11 am (AEST), after a successful Initial Public Offer raised the target figure of $A6 million.
The offer of 30 million shares at a price of $0.20 a share, which was heavily oversubscribed, was led by Asia Pacific Prudential Securities (APP Securities).
The capital will be used to begin clinical trials later this year on its frontline drug candidate, NOX66, which is a drug technology that aims to provide a means of overcoming the resistance of cancer cells to standard-of-care chemotherapies.
Noxopharm is an Australian drug development company with offices in Melbourne and Sydney. The Company has a primary focus on the development of drugs to address the problem of drug-resistance in cancer cells, the major hurdle facing improved survival prospects for cancer patients. NOX66 is the first pipeline product, with later generation drug candidates under development in an R&D program.
For further information regarding Noxopharm, please visit our website : www.noxopharm.com
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SOURCE Noxopharm Limited