Melbourne-based pharmaceutical firm Amplia Therapeutics completed a $4.3 million entitlement offer backed by existing and new investors.

The funds will fuel ongoing clinical trials, notably for pancreatic cancer treatment.

Eligible shareholders were offered two new shares for every five they held at 5.5 cents per share, resulting in the issuance of 77,602,838 new shares.

CEO Chris Burns highlighted the offer's importance in advancing their FAK inhibitor, narmafotinib, particularly in the ongoing Phase 2 ACCENT trial for pancreatic cancer.

The funds will primarily support the continuation of this trial and other research and development endeavours.