bullish
Opthea Ltd (OPT AU): Secured Funds as Lead Eye Drug Candidate Advancing in Phase 3 Trials
283 Views28 Nov 2022 18:58
SUMMARY
- Opthea Ltd (OPT AU) secured up to $170M in non-dilutive financing from Launch Therapeutics, which is backed by Carlyle Group Inc (CG US) and its life sciences franchise, Abingworth.
- Opthea has closed $90 million equity financing placement at a price of A$1.15 per share in two tranches. Further, the company has raised A$5 million through right issue.
- These strategic transactions are expected to fund Opthea through Phase 3 topline data expected in mid-2024 and strengthens its strategic position to maximize the value of OPT-302.
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Tina Banerjee
Global Healthcare Analyst
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