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Memphasys (ASX: $MEM) raises $4.23 million for commercial opportunities and pipeline development

Memphasys Limited (ASX: $MEM) Capital Raising Announcement


Australian-based bio-separations and reproductive biotechnology company Memphasys Limited (ASX: $MEM) has announced a capital raising of approximately $4.23 million through a placement to sophisticated and professional investors and a pro rata non-renounceable rights issue. The funds raised will be utilized to pursue commercial opportunities with Felix™ and continue driving Product Development activities with RoXsta and Al-Port, settle outstanding debts and creditors, and provide working capital.

Executive Commentary on Capital Raising and Utilization of Funds


The capital raising will enable us to actively pursue commercial opportunities with Felix™, which is a significant step in advancing our reproductive biotechnology solutions. Additionally, the funds will support the ongoing development of our pipeline, particularly the Product Development activities with RoXsta and Al-Port. We are also focused on addressing outstanding financial obligations and ensuring adequate working capital to sustain our operations and growth. This strategic move aligns with our commitment to driving innovation and expanding our market presence in the reproductive biotechnology sector.

Summary of Memphasys Capital Raising and Future Outlook


Memphasys Limited (ASX: $MEM) has successfully raised approximately $4.23 million to pursue commercial opportunities with Felix™ and advance the development of their reproductive biotechnology pipeline. The company's focus on settling outstanding debts and creditors, along with providing working capital, reflects a prudent approach to financial management. With the capital injection, Memphasys is well-positioned to drive innovation, enhance product development, and strengthen its market position. The upcoming General Meeting and Entitlement Offer will provide existing shareholders with an opportunity to participate in the company's growth trajectory. The underwriting of the Entitlement Offer further demonstrates confidence in the company's prospects. As Memphasys continues to execute its corporate strategy, the successful utilization of these funds is expected to contribute to the company's long-term objectives and market expansion.

Sourcehttps://announcements.asx.com.au/asxpdf/20231204/pdf/05y4pfdzmwwln3.pdf

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