Imagion Biosystems (ASX:IBX) capital raising announcement

Imagion Biosystems (ASX:IBX) has successfully secured A$3 million through a capital raising. The funds will be used to accelerate priority work programs and clinical studies on its MagSense platform technology, particularly focusing on the MagSense HER2 Imaging Agent (MSH2IA) for patients diagnosed with HER2+ breast cancer.

Executive Commentary on Capital Raising

We are very pleased with the capital raise, we saw strong demand from our shareholders. I want to thank CPS Capital for all their hard work and all the investors who have shown their support in this process.

Summary of Imagion Biosystems' Capital Raising

Imagion Biosystems (ASX:IBX) has successfully secured A$3 million through a capital raising, with strong support from sophisticated investors. The funds will be used to accelerate priority work programs and clinical studies on its MagSense platform technology, particularly focusing on the MagSense HER2 Imaging Agent (MSH2IA) for patients diagnosed with HER2+ breast cancer. The company aims to achieve key clinical milestones during 2025 and advance the development of its MagSense pipeline targeting prostate cancer, ovarian cancer, pancreatic cancer, and brain cancer programs. The settlement of the first tranche is expected to occur on October 15, 2024, with the allotment and normal trading of new shares under the first tranche to occur on October 16, 2024. This new capital raising will allow the company to recommence the MagSense platform technology development and introduce molecular imaging to MRI, revolutionizing cancer diagnosis.