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Nexalis Therapeutics Ltd (ASX:NX1)

ALERT: Price-sensitive ASX Announcement for NX1
Current share price for NX1 : $0.009 -0.016 (-64%)+
Announcement
Release
28 May 2026 9:48AM
Price at Release
$0.025
Full Release
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Summary
Nexalis Therapeutics Ltd has entered into a binding letter of intent with Point8 Capital Pty Ltd for a new funding facility to replace their existing Linlithgow Family Office debt facility. This new Point8 Facility offers up to $53 million in non-dilutive funding, structured in three sub-facilities aligned with Nexalis’ clinical programs. The funding will support Nexalis’ programs including IRX-211, IRX-616a, and IRX-SRX25, with funds allocated strictly for clinical trial expenses. Additionally, Point8 Capital will be issued 49.35 million options, tied to the clinical success of the programs, and exercisable as each program approaches Phase 3 readiness. The agreement includes a 15% interest rate and security over Nexalis' assets. The previous facility with LFO was canceled due to limited funding received.
Key Points
  • Nexalis Therapeutics Ltd has signed a binding letter of intent with Point8 Capital to replace its existing $53 million Linlithgow Family Office facility.
  • The new funding facility, known as the Point8 Facility, will provide up to $53 million in non-dilutive funding.
  • The funding is structured across three sub-facilities dedicated to Nexalis’ core clinical programs: IRX-211, IRX-616a, and IRX-SRX25.
  • Funding from the Point8 Facility will be used for approved research activities, including costs related to clinical trials.
  • Point8 Capital will receive 49.35 million options as part of the equity participation for the lender.
  • The options will be structured to be exercised in three tranches aligned with each of Nexalis’s clinical programs, potentially exercisable when each program is Phase 3 ready.
  • The interest rate of the new facility is set at 15% per annum, capitalized monthly, with an additional 5% in case of default.
  • The facility includes a general security deed over all assets and undertakings of Nexalis.
  • The previous LFO Facility was terminated, with only $0.8 million of the $2.4 million requested being received.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.