Cyclopharm Secures Funding for US Expansion

Cyclopharm Limited (AU:CYC) has released an update.

Cyclopharm Ltd has announced the successful completion of a $A20.0 million capital raise through a placement of 14.1 million shares to support its expansion in the USA following the recent FDA approval of Technegas. Additionally, a $A2.0 million Share Purchase Plan (SPP) was announced to allow eligible shareholders to invest at the same price. The funds will be used to accelerate the US commercialization of Technegas, increase warehousing capacity, invest in manufacturing equipment, and develop intellectual property.

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