Actinogen Medical completes successful capital raising

Actinogen Medical (ASX: $ACW) has successfully completed its non-renounceable 1 for 15 entitlement offer to raise up to $3.9m, resulting in a total capital raising of $8.9m with no shortfall. The funds will be utilized to advance the XanaMIA trial in patients with mild-moderate Alzheimer's disease beyond the interim results in the first 100 patients, expected in mid-2025, and for general working capital.

Executive commentary on successful capital raising

We're very pleased and grateful for the strong support of shareholders which endorses our view of the potential for Xanamem's® success in its two phase 2 clinical trial programs. We look forward to reporting on the results of our XanaCIDD phase 2a trial in cognition and depression early next quarter, and the interim results from our XanaMIA phase 2b trial in patients with Alzheimer's disease in mid-2025.

Summary of capital raising and future outlook

Actinogen Medical (ASX: $ACW) has successfully completed a total capital raising of $8.9m with no shortfall, indicating strong support from existing shareholders. The funds will be directed towards advancing the XanaMIA trial in patients with mild-moderate Alzheimer's disease and for general working capital. The company's CEO, Steven Gourlay, expressed gratitude for the shareholders' support and highlighted the upcoming milestones in the phase 2 clinical trial programs. The future outlook includes the anticipation of reporting results from the XanaCIDD phase 2a trial in cognition and depression early next quarter, and the interim results from the XanaMIA phase 2b trial in patients with Alzheimer's disease in mid-2025.