Racura Oncology Ltd (ASX: RAC) has announced it has successfully raised a total of A$34.3 million through a series of fundraising initiatives. These significant funds are designated to fully finance three critical clinical programs in oncology and provide general working capital. Racura Oncology (ASX: RAC) is a Phase 3 stage clinical biopharmaceutical company with a mission to silence cancer. Its lead asset, (E,E)-bisantrene (RC220), is a small molecule anticancer agent primarily functioning via G4-DNA & RNA binding, leading to potent silencing of the cancer growth regulator MYC. The announcement was made on 16 June 2026.
The capital raise, which has occurred since June 2024, reflects strong support from both new and existing shareholders. The total of A$34.3 million was amassed through Bonus and Piggyback Option conversions, private placements, and Option underwriting. Notably, the company elected to partially place 509,205 of the 631,201 shortfall options from an underwriting agreement, contributing an additional A$636,506.25 while aiming to limit shareholder dilution. Racura confirmed that no broker or underwriter fees were incurred in connection with these fundraising efforts.
The secured funds will primarily advance Racura’s RC220 clinical programs, specifically targeting Acute Myeloid Leukaemia (AML), Epidermal Growth Factor Receptor mutant (EGFRm) non-small cell lung cancer, and anthracycline cardioprotection in solid tumour patients. Dr Daniel Tillett, CEO and Managing Director, expressed gratitude for the substantial support, stating, “Raising more than A$34 million directly from our shareholders over the past two years demonstrates exceptional confidence in us and our mission.” Dr Tillett added that the company looks forward to updating investors on RC220’s clinical progress in the coming months.
