Island Pharmaceuticals Ltd (ASX: ILA), an Australian antiviral drug development company focused on areas of unmet need for antiviral therapeutics to address infectious diseases, announced it has received $350,000 in new funding. This was secured through the exercise of 5,000,000 options at $0.07 per option by existing substantial shareholder, MWP Partners Limited. The company’s lead asset is ISLA-101, a drug with a well-established safety profile, being repurposed for the prevention and treatment of dengue fever and other mosquito-borne diseases.
MWP Partners Limited, a Hong Kong-based investment firm specialising in high-growth companies, has increased its substantial holding in Island Pharmaceuticals through this transaction. The funds supplement Island’s existing cash at bank of $7.25 million as of 30 June 2025, and build upon the $780,000 received in July 2025 from Dr. William Garner’s option exercise. The new capital will provide Island with additional financial flexibility to advance its dual asset development strategy.
According to the company, the financial injection will support ongoing work related to ISLA-101’s clinical trial pipeline, as well as submission documentation on the Galidesivir program to the FDA this quarter. A meeting with the regulator is planned for Q4 CY25, along with a potential animal study in Marburg using Galidesivir.
Dr. David Foster, CEO and Managing Director of Island Pharmaceuticals, expressed his gratitude for MWP Partners’ ongoing support, highlighting the significance of this investment as a vote of confidence in the company’s clinical development strategy. Mr. Angus Walker, Chief Investment Officer of MWP Partners Limited, stated that the decision to bring forward the option exercise was driven by Island’s consistent performance and the strength of its team and network.
