Island Pharmaceuticals Ltd (ASX:ILA) CEO and managing director Dr David Foster joins Jonathan Jackson in the Proactive studio to discuss the company’s $1.95 million raise and developments around ISLA-101, its leading drug candidate. Dr Foster provides an overview of ISLA-101, focusing on its intended purpose and potential impact, before speaking about the allocation of funds, particularly towards the analysis of data from the Phase 1 dose-escalation study. He also discusses the outcomes of this study, including the safety and tolerability of the drug, and what these results signify for the company. Money will also be used to advance a Phase 2 clinical trial. Dr Foster details the steps involved in this and what the company aims to achieve in this next phase of research. Finally, he looks ahead to the upcoming quarter, discussing the milestones and developments Island Pharmaceuticals anticipates.
“We are delighted with the support shown by existing and new sophisticated and professional investors to this offer and are very pleased to extend the offer on the same terms to all eligible shareholders," Dr Foster said.
"Funds raised will be used to analyse the Phase 1 dose and prepare for the planned Phase 2 clinical trial. If the options issued under the offer are exercised funds will advance our Phase 2 efficacy study for ISLA-101 with respect to dengue fever, which will define an exciting and critical period for the company.”
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