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AdAlta has raised a total of $1.9m in new equity from the exercise of 1ADOA options at $0.03 per share, a 20% premium to the closing price at expiry of the options on 29 May 2024.

The new equity includes an investment of $1.8m by existing major shareholder, Stuart Morris, demonstrating again the significant support for AdAlta's strategy by its major shareholders.

Proceeds, when combined with the potential to access up to $3.7m under recently announced investment agreements with New Life Sciences Capital LLC and the Meurs Group, help AdAlta to advance near-term transaction opportunities and internal development programs across AdAlta’s three priority areas: 

AdSolis - attracting third party investment and licensing to advance AD-214 as a novel approach for fibrotic disease into Phase II clinical trials

AdCella - providing Asian originated cellular immunotherapies with a pathway to western regulated markets and access to i-body technology

Discovery - evaluating opportunities to maximise the productivity of AdAlta’s discovery programs and processes

$1.9 million raised from exercise of 1ADOA options

Announcement summary