- Sienna Cancer Diagnostics (SDX) has raised approximately $1.7 million to accelerate commercialisation of SIEN NET and fund co-development expenditures
- The company issued approximately 47 million shares were issued today at a price of 3.5 cents per share
- Sienna will also offer eligible shareholders the opportunity to participate in a rights issue offer at the same price as the placement
- On market close, Sienna remains steady on the market today and is selling shares for 3¢ apiece
Sienna Cancer Diagnostics (SDX) has raised approximately $1.7 million to accelerate commercialisation of SIEN NET and fund co-development expenditures.
The company issued approximately 47 million shares were issued today at a price of 3.5 cents per share.
Sienna is an Australian medical technology company with operations in the United States, Europe, Asia, Latin America and Australia.
Sienna’s most recent technology acquisition was a unique technology for the capture and isolation of target analytes in liquid biopsy samples.
The sample preparation technology, known as SIEN-NET, can accurately and rapidly prepare samples for the liquid biopsy testing of a range of clinically useful biomarkers including exosomes, lipids, proteins, and other molecular targets of interest.
Some of the funds will be used to accelerate the commercialisation of SIEN NET.
Funds will also be used to fund co-development expenditures for the development of a pancreatic cancer test and the development of an exosome-based therapeutics for the treatment for critical limb ischemia.
Sienna will also offer eligible shareholders the opportunity to participate in a rights issue offer at the same price as the placement.
Shareholders could also be able to apply for additional shares in excess of their rights using the personalised form.
On market close, Sienna remains steady on the market today and is selling shares for 3¢ apiece.