Defence Announces Extension of Private Placement, Continues Development of Its Radiopharmaceuticals and ADC Programs
Rhea-AI Summary
Defence Therapeutics has received a 30-day extension from the Canadian Securities Exchange for its non-brokered private placement offering. The company previously closed a first tranche of 1,550,000 units at $0.50 per unit, raising $775,000. The upcoming financing will partially fund the development of Defence's preclinical radiopharmaceuticals and ADC programs, which utilize their proprietary Accum® technology platform. Both programs aim to enhance cancer treatment efficacy by delivering radioactivity/drugs more precisely to cancer cells, potentially reducing dosing requirements and side effects for patients.
Positive
- Successfully raised $775,000 in first tranche of private placement
- Secured 30-day extension for additional funding
Negative
- Requires additional financing through private placement to fund operations
- Programs still in preclinical stage with no immediate revenue potential
News Market Reaction 1 Alert
On the day this news was published, DTCFF declined 2.25%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - November 4, 2024) - Defence Therapeutics Inc. (CSE: DTC) (OTCQB: DTCFF) (FSE: DTC) ("Defence" or the "Company"), a Canadian biopharmaceutical company developing radiopharmaceuticals and ADC products using its proprietary platform and drug delivery technologies in addition to novel immune-oncology vaccines, is pleased to announce that it has received a 30-day extension approval from Canadian Securities Exchange to extend the closing for the balance of its previously announced non-brokered private placement of units of the Company (the "Units") at a price of
The Company wished to inform that a portion of the upcoming tranche of financing will be allocated to further develop Defence's preclinical radiopharmaceuticals program as well as the ADCs program using its proprietary Accum® technology platform. Those two very promising programs are at the center of Defence's preclinical development, and both have similar objectives which are to deliver the radioactivity/drugs specifically and more precisely to cancer cells, resulting in increasing the efficacy to treat cancers, with potentially to significantly reducing the dosing and causing less sides effects for the benefit of the cancer patients.
About Defence:
Defence Therapeutics is a publicly-traded clinical-stage biotechnology company developing and engineering the next generation of radio-immuno-conjugate and ADC products using its proprietary platform in addition to novel immune-oncology vaccines. The core of Defence Therapeutics platform is the ACCUM® technology, which enables precision delivery of radio-immuno-conjugates or ADCs in their intact form to target cells, and vaccine antigens. As a result, increased efficacy and potency can be reached against catastrophic illness such as cancer and infectious diseases.
For further information:
Sebastien Plouffe, President, CEO and Director
P: (514) 947-2272
Splouffe@defencetherapeutics.com
www.defencetherapeutics.com
Cautionary Statement Regarding "Forward-Looking" Information
Neither the CSE nor its market regulator, as that term is defined in the policies of the CSE, accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228877
FAQ
How much did Defence Therapeutics (DTCFF) raise in the first tranche of its private placement?
What is the price per unit for Defence Therapeutics' (DTCFF) private placement offering?
What will Defence Therapeutics (DTCFF) use the private placement proceeds for?
