Argonaut acted as Joint Lead Manager to successfully raise $8.0 million for Botanix Pharmaceuticals Limited (ASX: BOT) (“Botanix” or “the Company”). The Company raised funds from existing shareholders as well as new institutional and sophisticated investors across Australia and Asia by way of a $8.0 million Placement at an issue price of $0.11 per share. Strong interest in the Placement resulted in its oversubscription.
Funds raised from the Placement will be used to accelerate the development of BTX 1204 into Phase 2 clinical trial, with the remaining funds used to develop BTX 1801 into pilot clinical study and Phase 1b study. Botanix is now in a strong position to continue progressing its corporate objectives and delivering value to shareholders.
Argonaut is delighted to continue to provide support to Botanix and looks forward to our ongoing work with the company.
Additional information regarding Botanix can be found on the Company’s website at www.botanixpharma.com.