Melbourne, Australia; 9 December 2015: Starpharma Holdings Limited (ASX: SPL; OTCQX:SPHRY) is pleased to announce it has raised A$32 million via a placement to domestic and international institutional, sophisticated and professional investors (“Placement”). Eligible shareholders will also have the opportunity to participate, at the same price, through a Share Purchase Plan (SPP) which will raise up to a further A$3 million.

The Placement was significantly oversubscribed with strong demand from new domestic and international funds as well as existing institutional shareholders. It was conducted at $0.73 per share, representing a 6.4% discount to the last closing price prior to SPL shares going into a Trading Halt on Monday 7 December 2015 (A$0.78 per share).

The funds raised will support advancement of the business,  including the DEP^TM docetaxel Phase 2 clinical program and the acceleration of further DEP^TM drug delivery candidates into the clinic. The funds will also support the licensing, approvals and launches of the VivaGel^® BV symptomatic relief product and the completion of the Phase 3 trials of VivaGel^® for prevention of recurrent bacterial vaginosis (BV) which are well advanced.

Starpharma Chief Executive Officer Dr Jackie Fairley said: “Starpharma’s portfolio of products has matured substantially over the last few years this funding places the company in a strong position to accelerate the commercialisation of our technologies with the advancement of the clinical programs of DEP™ docetaxel, entry of new DEP™ candidates into the clinic and the licensing and launch of VivaGel^® BV.

“This accelerated program also strongly positions the company to capture the growing partner interest in our portfolio by global pharmaceutical and healthcare companies and it follows the recent licensing agreement with AstraZeneca in the DEP^TM platform.

“As a result of the Placement, we welcome a major new domestic institutional shareholder onto the register as well as several new local and international funds. We also acknowledge the support from our existing institutions and retail shareholders. Retail shareholders can subscribe for new shares at the same price without incurring brokerage costs, in the forthcoming share purchase plan.”

Bell Potter Securities Limited and Canaccord Genuity acted as Joint Lead Managers to the Placement.

Share Purchase Plan

The SPP will offer all eligible shareholders the opportunity to subscribe up to a maximum of A$15,000 of shares at the same Placement price of A$0.73 per share. The amount to be raised under the SPP is capped at A$3 million.

The record date for participation in the SPP is 7:00pm (Melbourne time) on 8 December 2015 and the opening date of the SPP will be Wednesday 16 December 2015. Full details will be sent to investors in the coming days.

Use of funds

The combined A$35 million being raised under the Placement and the SPP will allow the company to fund advancement across all areas of the business including:

• Phase 2 clinical program for DEP^® docetaxel;
• Accelerate further DEP^® drug delivery candidates into preclinical and Phase 1 trials;
• The commercialisation of VivaGel^®  BV for symptomatic relief and the VivaGel^® condom, including product and launch working capital;
• Complete Phase 3 trials of VivaGel^® for prevention of recurrence of BV;
• Commercialisation of agrochemical products; and
• Provide working capital and strengthen the balance sheet to support commercial negotiations underway for various products.

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