Australia: Paradigm Biopharmaceuticals raises A$66m in underwritten share placement

Paradigm Biopharmaceuticals, a late-stage drug development company, has announced a A$66m (US$45.8m) fully underwritten capital raising. Following the completion of the capital raising, Paradigm will have a proforma cash position of A$108.5m, which will fund the company into 2024. The placement was supported by current institutional investors of Paradigm and new international and domestic institutional…