Rakovina Therapeutics Announces Private Placement Offering
Summary
VANCOUVER, British Columbia, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Rakovina Therapeutics Inc. (TSX-V: RKV, the Company or Rakovina Therapeutics) a biopharmaceutical company committed to advancing new cancer therapies based on novel DNA-damage response technologies is pleased to announce a non-brokered private placement offering (the Offering) of up to $1.25 million.The Company has received initial commitments totaling over $800,000 from strategic investors in connection with the Offering.The Offering is structured as units priced at $0.06 each, with each unit consisting of one common share and one warrant to purchase a common share. "We are deeply grateful to our investorsboth long-standing and newwhose confidence reinforces the promise of our development efforts, said Jeffrey Bacha, Executive Chairman of Rakovina Therapeutics. Our recent data demonstrates that the Deep Docking AI platform has delivered on its objective, generating a focused shortlist of potential best-in-class PARP-1 inhibitor candidates capable of crossing the blood-brain barrier. The next critical step is validating these promising candidates using our wet-lab infrastructure at the University of British Columbia while advancing work on our next target. "The Units will be sold on a non-brokered private placement basis in accordance with applicable Canadian securities laws and under applicable exemptions from prospectus and registration requirements and the securities will be subject to resale restrictions for a period of four months plus one day from the date of issue.Rakovina Therapeutics Inc. is focused on the development of new cancer treatments based on novel DNA-damage response technologies.