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Paradigm Biopharmaceuticals to finalise raising

The halt will remain in place until Monday 6th November 2017.

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The company's shares are in pre-open

Paradigm Biopharmaceuticals Ltd (ASX:PAR) remains focused on repurposing pentosan polysulfate sodium (PPS), an FDA-approved drug that has a long track record of safely treating inflammation.

Paradigm is repurposing PPS for a number of applications with a focus on treatment of orthopaedic and viral arthritic indications.

Drug repurposing comes at a lower cost, minimises risk and has accelerated development timelines.

The company is currently completing a capital raising, and the ASX has granted a trading halt to finalise.

The halt will remain in place until the opening of trade on Monday 6th November 2017, or earlier if an announcement is made to the market.

Quick facts: Paradigm Biopharmaceuticals Ltd

Price: 3.16 AUD

ASX:PAR
Market: ASX
Market Cap: $710.2 m
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