Argonaut acted as Joint Lead Manager to successfully raise $40 million for Botanix Pharmaceuticals Limited (ASX: BOT) (“Botanix” or “the Company”) at an issue price of $0.21 per share. The capital raising was underpinned by strong support from US institutional investors, which included specialist US-based biotech investment funds reflecting the growing potential of the Company’s suite of products. In addition, the Placement was also strongly supported by Australian based investors, which resulted in the Placement being significantly oversubscribed.
Funds from the Placement will enable Botanix to continue to execute its key clinical development programs and accelerate its broader commercialisation strategy. The Company is now fully funded to progress the development of its antimicrobial program into clinical studies and also undertake supportive studies required prior to commencement of Phase 3 studies for BTX 1503 and BTX 1204.
Argonaut is delighted to continue to provide support to Botanix and looks forward to Botanix’s ongoing success.
Additional information regarding Botanix can be found on the Company’s website at www.botanixpharma.com.