Altamira Therapeutics Launches $12 Million Public Offering

Altamira Therapeutics Launches Significant Public Offering

Altamira Therapeutics Ltd., a company focused on advancing RNA delivery technologies beyond the liver, has made headlines with its recent public offering. This initiative aims to raise up to $12 million, comprising an upfront amount of $4 million, with potential additional proceeds of up to $8 million from milestone-linked warrants.

Details of the Offering

The offering includes a total of 5,555,556 common shares, along with accompanying Series A-1 and Series A-2 common warrants, with an attractive price point set at $0.72 per share. The Series A-1 common warrants will be immediately exercisable and could significantly enhance the company's funding as they are tied to pivotal performance milestones related to key projects, AM-401 and AM-411.

Warrants and Potential Proceeds

The Series A-1 warrants will expire in eighteen months or shortly after the announcement of positive biodistribution data, while the A-2 warrants will remain valid for up to five years, ensuring that Altamira has flexible options for fundraising as milestone events occur. If these warrants are fully exercised, they could add an additional $8 million to the company’s coffers.

Expected Closing and Use of Proceeds

The closing date for this offering is projected to be around September 19, pending customary closing conditions. The funding secured through this offering will mainly support working capital and general corporate purposes, ensuring that Altamira remains well-positioned to continue its innovative efforts.

Placement Agent Partnership

H.C. Wainwright & Co. has taken on the role of exclusive placement agent for this offering. Their expertise in executing such transactions is expected to aid Altamira in maximizing its fundraising efforts. This collaboration aligns with Altamira's strategy to strengthen its financial position as it advances its pipeline of RNA delivery technologies.

Company Background and Future Prospects

Altamira Therapeutics has been carving its niche in the biotech landscape with its innovative drug delivery platforms, OligoPhore™ and SemaPhore™, designed for effective RNA delivery beyond traditional methods. Currently focusing on two primary siRNA programs—AM-401, targeting KRAS driven cancer, and AM-411 for rheumatoid arthritis—Altamira is committed to moving these promising therapies through preclinical development.

Partnerships and Asset Management

In addition to its primary programs, Altamira also has a stake in Altamira Medica AG, which markets Bentrio®, an OTC nasal spray aimed at relieving allergic rhinitis symptoms. The company is actively exploring further partnerships and divesting from its legacy assets, indicating a clear strategy for growth and diversification in the biotech field.

Contact Information for Inquiries

For more details regarding the offering or company updates, interested parties can reach out to Altamira Therapeutics. The team is available through their contact email for inquiries regarding the offering and related ventures.

Frequently Asked Questions

1. What is the purpose of the public offering?

The public offering aims to raise funds for working capital and further the development of Altamira's innovative RNA delivery technologies.

2. How much does Altamira aim to raise through this offering?

Altamira is looking to raise up to $12 million through this public offering.

3. Who is acting as the placement agent for this offering?

H.C. Wainwright & Co. is the exclusive placement agent for this public offering.

4. What are the key programs Altamira is focusing on?

Altamira's key programs include AM-401 for KRAS driven cancer and AM-411 for rheumatoid arthritis, both in preclinical stages of development.

5. How can I get in touch with Altamira for more information?

Individuals can contact Altamira directly via their provided email address for any inquiries related to the offering or the company's operations.

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