Syntara Raises $10 Million to Advance Amsulostat Phase 2b Trial in Myelofibrosis
核心洞察
Syntara has secured $8 million in firm commitments through an institutional placement, with an additional $2 million share purchase plan for existing shareholders.
Proceeds will fund five clinical trial readouts in 2026 and preparation of the Phase 2b study for lead asset amsulostat (搜索) in myelofibrosis (搜索).
Amsulostat (搜索) holds both FDA Fast Track and Orphan Drug designations, underscoring the unmet need in myelofibrosis (搜索) treatment.
Syntara Limited (ASX:SNT) has successfully raised $8 million through an institutional placement and announced plans for a further $2 million share purchase plan, securing the financial runway needed to advance its lead asset amsulostat (搜索) into a pivotal Phase 2b study in myelofibrosis (搜索) and deliver five clinical trial readouts across its pipeline during 2026.
The placement will issue approximately 296.3 million new fully paid ordinary shares at $0.027 per share, representing a 15.6% discount to the last closing price on 24 April 2026 and a 17.6% discount to the five-day volume weighted average price. The capital raise is structured in two tranches: Tranche 1 will raise approximately $6.6 million using existing ASX listing capacity with settlement expected on 6 May 2026, while Tranche 2 will raise approximately $1.4 million, contingent on shareholder approval at an extraordinary general meeting anticipated in mid-to-late June.
At its General Meeting on 23 June 2026, Syntara secured shareholder backing for both capital-related resolutions, with each motion carried by strong majorities on a poll. The approval provides the company with enhanced flexibility to fund its ongoing clinical programs.
Amsulostat (搜索): A Promising Asset in Myelofibrosis (搜索)
Amsulostat (搜索), Syntara's lead drug candidate, is being developed for the treatment of myelofibrosis (搜索) and myelodysplastic syndromes (搜索). The asset has been granted both Fast Track and Orphan Drug designations by the U.S. Food and Drug Administration, reflecting the significant unmet medical need in these hematologic malignancies and the therapeutic potential of the compound.
The proceeds from the capital raise will be directed toward preparing the Phase 2b clinical study of amsulostat (搜索) in myelofibrosis (搜索), a key milestone for the program. The company also intends to strengthen its pan-LOX (搜索) patent suite, reinforcing the intellectual property position around its lead asset.
Pipeline Catalysts and Financial Outlook
Beyond amsulostat (搜索), Syntara is advancing three pipeline programs with five clinical studies currently underway. The company stated that the new funding will provide a cash runway through the third quarter of 2027, enabling delivery of data from all five ongoing clinical studies over calendar 2026.
Syntara Chief Executive Officer Gary Phillips commented on the capital raising: "We're very grateful for the strong support from our shareholders and new investors in this capital raising, stemming from the positive FDA review of our clinical development plan and Phase 2b protocol for amsulostat (搜索). With this injection of capital Syntara is now very well positioned to deliver data from the five clinical studies currently underway for its three pipeline programs and explore the associated commercial potential."
The planned non-underwritten share purchase plan will invite eligible existing shareholders in Australia and New Zealand to participate at the same issue price of $0.027 per share, with individual participation capped at $30,000. An offer booklet is expected to be distributed in mid-May.
Syntara, headquartered in Sydney, Australia, is a clinical-stage biotechnology company focused on developing novel treatments for blood cancers, fibrotic and inflammatory diseases, and neurodegenerative conditions. The company previously developed and divested two respiratory products, Bronchitol and Aridol.