PharmAust has a strategy targeting MPL for both human and vet applications.
Drug repurposing can be a capital efficient path to market.
The company recently appointed Dr Angela Frimberger and Dr Christian Schirvel, who are international opinion leaders in the field of animal health to advise and assist with its veterinary cancer program.
To fund the next steps PharmAust is now heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.
The halt will remain in place until the opening of trade on Wednesday 6th December 2017, or earlier if an announcement is made to the market.