Antisense Therapeutics (ASX:ANP) - Managing Director, Mark Diamond
Managing Director, Mark Diamond
Source: NWR Communications
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  • Antisense Therapeutics (ANP) has raised $7.3 million for its Duchenne muscular dystrophy (DMD) treatment
  • The company will issue 73 million shares at 10 cents each to new and existing shareholders
  • Additionally, it aims to raise a further $1 million under a share purchase plan (SPP)
  • The funds will be used to advance its applications of DMD treatment, known as ATL1102, in Europe and U.S.
  • On the market this afternoon, Antisense is down 8.70 per cent and is trading for 10.5 cents per share

Antisense Therapeutics (ANP) has raised $7.3 million for its Duchenne muscular dystrophy (DMD) treatment.

The company will issue 73 million shares at 10 cents each to new and existing shareholders. Additionally, it will raise a further $1 million under a share purchase plan (SPP) at the same price as the placement.

Under the SPP, eligible shareholders will be able to purchase up to $30,000 worth of new shares.

DMD is an inherited disorder of progressive muscular weakness and commonly impacts young boys. There is currently no cure for the genetic condition, only treatments to help control the symptoms.

The funds will be used to advance its applications of DMD treatment, known as ATL1102, in Europe and the U.S.

This includes the manufacturing of the drug compound for the upcoming phase IIb European Clinical trial and advancing plans with the U.S. food and drug administration (FDA).

In October, ATL1102 was granted Orphan Drug Designation by the FDA. This designation provides support and incentives to companies which are developing drugs for the treatment of rare diseases.

Additionally, earlier this week, Antisense commenced its journey to dual list on the Frankfurt Stock Exchange.

On the market this afternoon, Antisense is down 8.70 per cent and is trading for 10.5 cents per share at 1:37 pm AEDT.

ANP by the numbers
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