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Biotron secures A$4.7M in underwritten financing

Biotron Ltd. is looking to raise A$4.7 million through an underwritten offering of options.

The Australian biotechnology company is offering 78,429,130 options exercisable at 6 Australian cents apiece to CPS Capital Group Pty. Ltd.

Biotron will use the funds, among other purposes, for antiviral drug development, including treatments for hepatitis C and B and dengue.

Its lead candidate is BIT225 — an experimental HIV-1 treatment in late-stage development. In September, Biotron reported positive results for the treatment, saying it helped to clear virus from key reservoir cells in a midstage trial conducted in Thailand.