Opthea Receives Commitments To Raise $50 Million Via Private Placement

  • Dec 02, 2019 AEDT
  • Team Kalkine

Opthea Limited (ASX: OPT) has received commitments from sophisticated and institutional investors in Australia and the UK to raise $50 million through a private placement.

  • The funds raised through the placement would support in the late-stage clinical development of OPT-302 as a treatment for wet Age-related Macular Degeneration (AMD).
  • The funds would also be used in the production of adequate quantities of clinical grade OPT-302 for Phase 3 clinical development and the initiation of two simultaneous Phase 3 pivotal registrational trials in wet AMD patients.

At AEST: 1:05 PM, OPT shares quoted $3.09, up 13.3% from its previous close.

 

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