Argonaut acted as Joint Lead Manager to successfully raise $40 million Placement for Botanix Pharmaceuticals in 2019 to continue the execution of its key clinical development programs and to accelerate its broader commercialisation strategy. Previous transactions included an $8 million Placement in 2018 and a $15 million Placement early that year to further explore the commercial potential of the Permetrex TM technology. Argonaut also served as a Sale Lead Manager in raising A$7 million to advance the clinical development of Botanix Pharmaceuticals’ dermatological products. All Placements were strongly supported by Australian and international-based sophisticated investors, which resulted in the Placements being significantly oversubscribed.
Botanix Pharmaceuticals (ASX:BOT) is a clinical-stage synthetic cannabinoid pharmaceutical company dedicated to developing next-generation dermatology and antimicrobial therapeutic products for the treatment of serious skin disease to help improve the lives of patients battling acne, psoriasis and atopic dermatitis. Botanix Pharmaceuticals is committed to ethical research & development and complies with the highest clinical standards mandated by the US Food and Drug Administration (FDA).
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