DelMar Pharmaceuticals raises $5.4mm through private placement post-reverse merger; now totals $10.5mm

Concurrent with the closing of a reverse merger in which it became public, cancer therapeutics developer DelMar Pharmaceuticals Inc. raised $5.4mm through the first closing of a private placement in which it sold 6.7mm common shares at $0.80 apiece to accredited investors. Buyers also received five-year warrants to purchase 6.7mm additional shares at $0.80. Charles Vista was appointed the placement agent for this and future closings. Proceeds will go towards trials of DelMar’s glioblastoma multiforme candidate VAL083.