SYDNEY, March 13, 2017
/PRNewswire/ -- Benitec Biopharma Limited (ASX:BLT; NASDAQ:
BNTC; NASDAQ: BNTCW) (Benitec) today announced that in accordance
with the Share Subscription Agreement dated 24 October 2016 entered into between Benitec and
Nant Capital, LLC (Nant) and as approved at Benitec's Annual
General Meeting on 14 December 2016,
Benitec today issued an additional 29,305,819 fully paid ordinary
shares to Nant under the second tranche of the approved placement
(Second Tranche Placement).
In accordance with the Share Subscription Agreement, shares
issued under the Second Tranche Placement were priced at
A$0.1859 per share to raise a total
of A$5.45 million for the
Company.
As a result of the successful completion of the Second Tranche
Placement, Nant now holds 28.57% of the issued capital of
Benitec.
Benitec's Chief Executive Officer, Greg
West, said: "In the second half of last year we said we
would build the relationship with Nant through acquiring a clinical
stage asset and by securing funding from Nant. I am pleased to
confirm that we have executed on both counts. Not only does
the successful completion of this Second Tranche Placement
consolidate our relationship with Nant, it also provides the
funding to advance our programs. The cementing of this strategic
relationship with Nant is a key step for Benitec in building value
for our shareholders."
Proceeds from the Second Tranche Placement will be used to
support both the oncology collaboration between Benitec and
NantWorks and the progression of Benitec's existing programs
towards the clinic.
For further information regarding Benitec please contact the
persons below or visit the Benitec website at www.benitec.com.
Benitec
Australia
Investor Relations
|
Benitec
United States
Investor Relations
|
Market Eye
Orla
Keegan
Director
Tel: +61 (2) 8097
1201
Email:
orla.keegan@marketeye.com.au
|
M Group Strategic
Communications
Jay
Morakis
Managing
Director
Tel: +1
212.266.0190
Email:
jmorakis@MGroupSC.com
|
About NantVentures
NantVentures funds
transformative ideas and technologies that enable enduring
improvements in human life with a primary focus on
healthcare, life sciences, medical diagnostics, mobile
technology, semi-conductors, nano-optics, artificial intelligence,
cloud computing, alternative energy and scientific innovations that
are on the bleeding edge of biology, chemistry, and physics.
Capital investments in private and public entities range from
single digit to multimillion-dollar commitments. Dr.
Patrick Soon-Shiong, the Founder and
Chairman of NantVentures, is a physician, surgeon and scientist,
who has pioneered novel therapies for both diabetes and cancer,
published over 100 scientific papers, and has over 95 issued
patents on groundbreaking advancements spanning myriad
fields. From 1997 to 2010 Dr. Soon-Shiong served as founder,
Chairman and CEO of two global pharmaceutical companies, American
Pharmaceutical Partners and Abraxis BioScience. Both were acquired
for multi-billion dollars in 2008 and 2010. In 2011 he founded
NantWorks, an ecosystem of companies to create a transformative
global health information and next generation pharmaceutical
development network, for the secure sharing of genetic and medical
information - empowering doctors to treat patients with proven
precision at the first point of care and, ultimately, improving the
lives of individuals, everywhere.
About Benitec Biopharma Limited:
Benitec
Biopharma Limited (ASX: BLT; NASDAQ: BNTC; NASDAQ: BNTCW) is a
biotechnology company developing innovative therapeutics based on
its patented gene-silencing technology called ddRNAi or 'expressed
RNAi'. Based in Sydney, Australia
with laboratories in Hayward,
California (USA), and collaborators and licensees around the
world, the company is developing ddRNAi-based therapeutics for
chronic and life-threatening human conditions including hepatitis
B, wet age-related macular degeneration and OPMD. Benitec has also
licensed ddRNAi to other biopharmaceutical companies for
applications including HIV/AIDS, Huntington's Disease, chronic
neuropathic pain and retinitis pigmentosa.
Safe Harbor Statement:
This press release
contains "forward-looking statements" within the meaning of section
27A of the US Securities Act of 1933 and section 21E of the US
Securities Exchange Act of 1934. Any forward-looking statements
that may be in the press release are subject to risks and
uncertainties relating to the difficulties in Benitec's plans to
develop and commercialize its product candidates, the timing of the
initiation and completion of preclinical and clinical trials, the
timing of patient enrolment and dosing in clinical trials, the
timing of expected regulatory filings, the clinical utility and
potential attributes and benefits of ddRNAi and Benitec's product
candidates, potential future out-licenses and collaborations, the
intellectual property position and the ability to procure
additional sources of financing. Accordingly, you should not rely
on those forward-looking statements as a prediction of actual
future results.
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SOURCE Benitec Biopharma Limited