ACW successfully completes $16.8m Placement and SPP
Released
Released
Announcement PDF
Actinogen Medical Limited ACN 086 778 476
Suite 901, Level 9, 109 Pitt Street, Sydney NSW 2000
+61 2 8964 7401 | actinogen.com.au
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ASX ANNOUNCEMENT
Actinogen successfully completes $16.8 million capital raising - $4.8 million raised via
share purchase plan
Sydney, 27 February 2026. Actinogen Medical ASX: ACW (“ACW” or “the Company”) is pleased to
announce that its share purchase plan (SPP) is now complete, with $4.8 million raised from existing
shareholders1. This brings total funding from this capital raising round to $16.8 million, when combined with
the $12.0 million in placement funding (Placement) announced on 2 February 2026.
The SPP was offered to all eligible existing shareholders on the same terms as the Placement, with an offer
price of $0.042 per share. Approximately 114 million new shares will be issued to SPP participants on Monday
2 March 2026, with the shares available for trading on Tuesday 3 March 2026. Given the proximity to the SPP
target of $5 million, the Company advises that it will not place the small shortfall.
As previously announced, as part of the Placement, CEO Dr Steven Gourlay committed to subscribe for
$500,000 worth of new shares and non-executive directors committed to subscribe for a further $167,000 worth
of new shares, which remain subject to approval by shareholders at an Extraordinary General Meeting (EGM)
to be held in Sydney on Wednesday, 18 March 2026.
The completion of this $16.8 million funding round, together with other funding sources, gives the company a
proforma 31 December 2025 cash balance of $29.5 million allowing the Company to successfully execute on
its CY2026 planned initiatives, including commencement of an Open Label Extension study, completing other
non-clinical activities and completing the pivotal XanaMIA phase 2b/3 Alzheimer’s disease trial by November
2026.
Mr Will Souter, the Company’s CFO, said:
“The successful Placement and SPP provide Actinogen with a cash runway extending beyond the topline final
results of our pivotal Alzheimer’s trial, anticipated in November this year. We are grateful for the strong support
from both new and existing institutional investors, and from the many other shareholders who participated so
enthusiastically.”
View this announcement on our InvestorHub: https://investors.actinogen.com.au/link/PZoJ6y
ENDS
Investors Media
Dr Steven Gourlay Michael Roberts George Hazim
CEO & Managing Director Investor Relations Media & Public Affairs Australia
P: +61 2 8964 7401 M: +61 423 866 231 M: +61 417 516 262
E. steven.gourlay@actinogen.com.au E. michael.roberts@actinogen.com.au E: georgehazim@mediaaffairs.com.au
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Applications were received from 308 shareholders for $5,046,437 and after removing non-conforming applications, the total raised
from the SPP was $4,771,930
Actinogen Medical Limited ACN 086 778 476
Suite 901, Level 9, 109 Pitt Street, Sydney NSW 2000
+61 2 8964 7401 | actinogen.com.au
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Announcement authorised by the Board of Actinogen Medical Limited
About Actinogen Medical
Actinogen Medical (ACW) is an ASX-listed, biotechnology company developing a novel therapy for neurological and
neuropsychiatric diseases associated with dysregulated brain cortisol. There is a strong association between cortisol and
detrimental changes in the brain, affecting cognitive function, harm to brain cells and long-term cognitive health.
Cognitive function means how a person understands, remembers and thinks clearly. Cognitive functions include memory,
attention, reasoning, awareness and decision-making.
Actinogen is currently developing its lead compound, Xanamem, as a promising new therapy for Alzheimer’s Disease. It
has also conducted a phase 2 trial in patients with cognitive impairment and depression and may study Fragile X Syndrome
and other neurological and psychiatric diseases in the future. Reducing cortisol inside brain cells could have a positive
impact in these and many other diseases. The cognitive dysfunction, behavioural abnormalities, and neuropsychological
burden associated with these conditions is debilitating for patients, and there is a substantial unmet medical need for new
and improved treatments.
Clinical Trials
The XanaMIA Phase 2b/3 Alzheimer’s disease trial is a double-blind, 36-week treatment, placebo-controlled, parallel
group design trial in 247 patients with mild to moderate AD and progressive disease, determined by clinical criteria and
confirmed by an elevated level of the pTau181 protein biomarker in blood. Patients receive Xanamem 10 mg or placebo,
once daily, and its ability to slow progression of Alzheimer’s disease is assessed with a variety of endpoints. The primary
endpoint of the trial is the internationally-recognized CDR-SB (Clinical Dementia Rating scale – Sum of Boxes). The trial
is being conducted in Australia and the US and is now closed to participant recruitment. It has passed an independent
Data Monitoring Committee safety and efficacy futility review and final topline results are expected in November 2026.
The XanaMIA-OLE Alzheimer’s disease open-label extension is an open-label phase of up to 25 months treatment
where all participants will receive active Xanamem 10 mg once daily. The trial will evaluate safety and a limited number of
efficacy endpoints such as the CDR-SB. The trial will commence in Q1 2026 and be open to all former and current
participants in the XanaMIA Phase 2b/3 trial.
The XanaCIDD Phase 2a depression trial was a double-blind, six-week proof-of-concept, placebo-controlled, parallel
group design trial in 167 patients with moderate, treatment-resistant depression and a degree of baseline cognitive
impairment. Participants were evenly randomized to receive Xanamem 10 mg once daily or placebo, in most cases in
addition to their existing antidepressant therapy, and effects on cognition and depression were assessed. Trial results were
reported in August 2024 and showed clinically and statistically significant benefits on depression symptoms with positive
effects on the MADRS scale (a validated scale of depression symptom measurement) and the PGI-S (a valid patient
reported assessment of depression severity). Cognition improved markedly and to a similar extent in both Xanamem and
placebo groups.
About Xanamem (emestedastat)
Xanamem’s novel mechanism is to control elevated levels of cortisol (aka the “stress hormone”) in the brain through the
inhibition of the cortisol synthesis enzyme, 11β-HSD1, without affecting production of cortisol by the adrenal glands which
is essential for the body’s normal functioning. Xanamem is a first-in-class, once-a-day pill designed to deliver high levels
of cortisol control in key areas of the brain related to Alzheimer’s and other diseases such as the hippocampus and frontal
cortex. To view Xanamem’s two-minute Mechanism of Action animation, click here.
Chronically elevated cortisol is associated with progression in Alzheimer’s Disease and excess cortisol is known to be
toxic to brain cells. Cortisol itself is also associated with depressive symptoms and when targeted via other mechanisms
has shown some promise in prior clinical trials. The recent XanaCIDD trial demonstrated clinically and sometimes
statistically significant benefits on depressive symptoms, further validating the cortisol control mechanism for the
Xanamem 10 mg oral daily dose.
The Company has studied 11β-HSD1 inhibition by Xanamem in more than 500 volunteers and patients in eight clinical
trials. Xanamem has a promising safety profile and has demonstrated clinical activity in patients with depression, patients
with biomarker-positive Alzheimer’s disease and cognitively normal volunteers. High levels of target engagement in the
brain with doses as low as 5 mg daily have been demonstrated in a human PET imaging study.
Actinogen Medical Limited ACN 086 778 476
Suite 901, Level 9, 109 Pitt Street, Sydney NSW 2000
+61 2 8964 7401 | actinogen.com.au
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Xanamem is an investigational product and is not approved for use outside of a clinical trial by the FDA or by any global
regulatory authority. Xanamem® is a trademark of Actinogen Medical.
Disclaimer
This announcement and attachments may contain certain "forward-looking statements" that are not historical facts; are
based on subjective estimates, assumptions and qualifications; and relate to circumstances and events that have not taken
place and may not take place. Such forward looking statements should be considered “at-risk statements” - not to be relied
upon as they are subject to known and unknown risks, uncertainties and other factors (such as significant business,
economic and competitive uncertainties / contingencies and regulatory and clinical development risks, future outcomes
and uncertainties) that may lead to actual results being materially different from any forward looking statement or the
performance expressed or implied by such forward looking statements. You are cautioned not to place undue reliance on
these forward-looking statements that speak only as of the date hereof. Actinogen Medical does not undertake any
obligation to revise such statements to reflect events or any change in circumstances arising after the date hereof, or to
reflect the occurrence of or non-occurrence of any future events. Past performance is not a reliable indicator of future
performance. Actinogen Medical does not make any guarantee, representation or warranty as to the likelihood of
achievement or reasonableness of any forward-looking statements and there can be no assurance or guarantee that any
forward-looking statements will be realised.
ACTINOGEN MEDICAL ENCOURAGES ALL CURRENT INVESTORS TO GO PAPERLESS BY REGISTERING THEIR DETAILS
WITH THE DESIGNATED REGISTRY SERVICE PROVIDER, AUTOMIC GROUP.
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