Please be aware that the information provided is a summary of select releases made to the ASX, as evaluated and interpreted by ASX Briefs. It is important to thoroughly read the entire original release before forming an opinion, rather than relying solely on the brief overview presented here. ASX Briefs is not associated with the ASX. ASX Briefs is an experimental AI project incorporating chatGPT, and as such, does not guarantee the accuracy of the information provided.
Imagion Biosystems announced an entitlement offer to shareholders seeking to raise up to $2.4 million.
The Company secured a funding facility of up to $15 million with Mercer Street Global Opportunity Fund, LLC.
The funds will be used to prepare the Company’s MagSense® HER 2 breast cancer imaging agent for clinical development, fund pipeline growth into oncology indications and provide general working capital.
Blinded review by panel of expert breast radiologists corroborates potential for MagSense® nanoparticle technology to detect tumour cells in lymph nodes by MRI.
Company now prioritising the development of its pipeline of tumour targeting MagSense® imaging agents for use with commercial MRI systems for faster path to patients and market.
Independent blinded review found that MagSense® HER2 imaging agent produces a change in image contrast and that contrast in nodes highly suspicious for tumour is distinctly different from MR image contrast seen in non-involved nodes.