PYC Therapeutics (ASX:PYC) completed the retail component of its pro rata accelerated non-renounceable entitlement offer of new shares, raising about AU$47 million at AU$1.50 apiece, according to a Wednesday filing with the Australian bourse.

The company received applications for roughly 31 million shares, representing a take-up rate of 40%, the filing said.

This comes after the institutional component of the entitlement offer and placement, which raised about AU$537 million, per the filing.