LTR Pharma Limited (ASX:LTP) has received firm commitments to raise $10.5 million.
The company is focused on improving men’s health through the clinical development and commercialisation of an innovative nasal spray treatment for Erectile Dysfunction (ED) via SPONTAN.
Placement funds raised will be applied to accelerate SPONTAN’s commercialisation and growth.
Funds will be deployed to advance SPONTAN's regulatory pathways, expand R&D pipeline, and bolster sales and marketing efforts.
LTR Pharma is now poised to expedite the commercialisation of SPONTAN, enabling early access through Australia’s special access scheme (SAS).
"We're delighted by the enthusiastic support for the Placement from both existing and new institutional investors. LTR Pharma is pioneering ED treatment with our innovative nasal spray, SPONTAN. Building on the positive results from our recent pivotal pharmacokinetic study, we're continuing to expedite the commercialisation of SPONTAN in key markets,” LTR Pharma Chairman, Lee Rodne, said.
“This capital injection will accelerate our regulatory engagements, strengthen our market entrance strategy through additional headcount, develop online product channels, and support partnering and licensing discussions. We'll initially leverage Australian early access schemes, whilst exploring potential partnerships with major pharmaceutical companies globally.”
