Medlab Clinical completes $15m cap raise
Australian law firm McCabe Curwood has advised Medlab Clinical on its multimillion-dollar capital raising.
Firm: McCabe Curwood (Medlab Clinical)
Deal: Medlab Clinical has completed a capital raising.
Value: $15 million.
Area: Banking and finance.
Key players: The legal team advising Medlab Clinical was led by McCabe Curwood principal Jason Lambeth and senior associate Olena Brodovska.
Deal significance: Medlab Clinical is an ASX-listed medical life science company, which develops therapeutic pathways for diagnosed chronic diseases.
The capital raising, advised by McCabe Curwood, finalised on 19 March 2021. It raised $15 million through a two-tranche placement of 62,500,000 new shares, valued at 24 cents a share.
According to a statement from McCabe Curwood, the $15 million raised will be used to fund projects for Medlab Clinical over the next 12 months. These projects include phase 3 clinical trials in Australia, the UK and the US.
“I am very pleased to have advised Medlab Clinical Ltd in relation to this placement raising,” commented McCabe Curwood principal Mr Lambeth.
“We are thrilled with its success.”