TheraCryf (TCF) | £4.3m raise to advance Ox-1 to clinical trial readiness
Further to the Chronos acquisition in 2024, TheraCryf has conditionally raised £4.25m to advance its Orexin programme to clinical trial readiness and now has a cash runway through the end of calendar 2026. The company expects to issue 1.7bn shares at 0.25p/share. While the discount is steep, TheraCryf believes it has the most selective Ox-1 inhibitor molecule in drug development with significant patent protection, targeting a market with multi-billion dollar potential for the treatment of addiction and anxiety. This funding is expected to progress TheraCryf's Orexin programme up to readiness to start Phase 1 clinical trials in 2026. Multiple large scale drug deals in the space confirm the interest of big Pharma in the treatment of Central Nervous System conditions. In addition, TheraCryf has announced the appointment of Dr Alastair Smith, formerly CEO of Avacta, as its new Non-Executive Chair.Evgen Pharma is a clinical stage drug development company. Co.'s pipeline is based on its proprietary Sulforadex® technology, and includes a number of synthetic, stabilised analogues of the naturally occurring compound sulforaphane.
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