Firebrick Pharma Limited (ASX:FRE) has announced it has secured an additional $102,000 investment from Pharma Nutria N.A., Inc. (PNAI), an entity affiliated with their Philippines licensing partner, SV More Pharma Corporation. Firebrick Pharma is a pharmaceutical innovator developing and commercialising novel formulations and uses of povidone-iodine (PVP-I). The company has developed and is now commercialising Nasodine Nasal Spray and has several other products in development.
The investment was made through a placement of 1.2 million shares at $0.085 per share, representing a 31% premium over the closing price of FRE shares on 15 October 2025, which was $0.065. These shares will be issued under the company’s existing placement capacity according to ASX Listing Rule 7.1, and represent approximately 0.5% of the current shares on issue. This follows PNAI’s initial investment of $1.1 million, announced on 4 March 2025.
PNAI requested the additional investment to restore their holding to above 5% after Firebrick’s recent $1.4 million placement to other investors, announced 26 August 2025. The company agreed to the placement because PNAI was unable to effectively trade on the market to increase their holding otherwise.
Paul Santillana, a Director of PNAI, stated that the investment strengthens their partnership with Firebrick Pharma and reflects confidence in the company’s vision and the potential of Nasodine. Dr Peter Molloy, Executive Chairman of Firebrick, welcomed PNAI’s continued support and looks forward to the approval of Nasodine Nasal Spray in the Philippines next year.
