Chimeric Therapeutics Launches $3.2M Entitlement Offer to Fund Cancer Trials

About Chimeric Therapeutics Limited

Chimeric Therapeutics (ASX: CHM), founded in Australia in 2020, is a clinical-stage biotechnology company developing next-generation cell therapies for cancer treatment. The company is headquartered in Melbourne, Victoria, and focuses on CAR-T and NK cell therapy to target various solid tumours and blood cancers. Its lead program, CHM CDH17 CAR-T, is being developed for colorectal, gastric, and neuroendocrine tumours. Additionally, the company’s CHM CORE-NK program, in collaboration with Case Western University and MD Anderson Cancer Centre, is exploring natural killer (NK) cell therapies in colorectal and blood cancers. Currently, Chimeric Therapeutics shares are trading at $0.006 per share.

Details of the $3.2 Million Entitlement Offer

Chimeric’s non-renounceable entitlement offer will provide eligible shareholders the opportunity to subscribe for 2 new fully paid ordinary shares for every 5 existing shares held as of the record date (21 March 2025). The offer price of $0.005 per share represents a 23.1% discount to Chimeric’s last closing price of $0.0065 and a 28.6% discount to its 5-day volume-weighted average price (VWAP) of $0.007.

Each new share issued under the entitlement offer will also include 1 free-attaching option per share, with an exercise price of $0.008 and an expiry date of 19 December 2025.

Approximately 638 million new shares and 638 million options will be issued, increasing Chimeric’s shareholder base and liquidity while ensuring funding for its clinical-stage cancer therapies.

Use of Funds and Clinical Trial Advancements

Proceeds from the entitlement offer will primarily support the CHM CDH17 Phase 1/2 trial, which is currently dosing patients with colorectal, gastric, and neuroendocrine tumours. The therapy has shown promising preclinical results, demonstrating tumour eradication across seven different cancers in early-stage studies.

Additionally, Chimeric will allocate funds toward its CHM CORE-NK program, which is investigating natural killer cell therapy in combination with Vactosertib for advanced colorectal and blood cancers. The MD Anderson Cancer Centre collaboration will further explore the synergy between NK cell therapy and the current blood cancer standard-of-care treatments, Azacitidine and Venetoclax.

Beyond clinical trials, a portion of the capital raise will go towards general working capital and entitlement offer-related costs, ensuring Chimeric remains well-funded as it progresses multiple cell therapy programs.

Entitlement Offer Participation and Top-Up Facility

Eligible shareholders have the option to take up all, part, or none of their entitlement. The offer is non-renounceable, meaning entitlements cannot be traded or transferred.

To support shareholder participation, Chimeric has introduced a top-up facility, allowing investors who take up their full entitlement to apply for additional shares from any shortfall. However, there is no guarantee that applicants will receive their full request under the top-up allocation.

If there is any remaining shortfall after the entitlement offer, Chimeric reserves the right to place additional shares within three months of the offer closing.

Advisory and Key Dates for the Capital Raise

The entitlement offer is jointly managed by PAC Partners Securities Pty Ltd and Taylor Collison Limited, who will receive 25 million adviser options as part of their professional services.

The ex-date for the entitlement offer is 20 March 2025, with the record date set for 21 March 2025. The offer will open on 25 March 2025 and close on 8 April 2025. New shares are expected to be issued by 15 April 2025, following the completion of shareholder applications.

Outlook and Future Growth Prospects

With a diverse pipeline of CAR-T and NK cell therapies, Chimeric Therapeutics remains at the forefront of Australian biotech innovation. The successful completion of this $3.2 million capital raise will enable the company to accelerate clinical trials, positioning its CHM CDH17 and CORE-NK programs for potential commercialisation and regulatory milestones.

The market will be closely monitoring trial results, patient responses, and further funding opportunities, as Chimeric advances its cell therapy pipeline to address unmet needs in oncology.