BRISBANE, 7 October 2014: Anatara Lifesciences is pleased to announce it has raised $7 million through an oversubscribed Initial Public Offering that has now closed.
The company, which is developing non-antibiotic medicines for the treatment and prevention of diarrhoea in animals and humans, offered 14 million shares at $0.50 a share.
Anatara expects the shares to begin trading on the Australian Securities Exchange the week beginning October 13th, with the company opening with a market capitalisation of $18,875,000. The assigned ASX code is ANR.
“The response by investors to the offering has been fantastic,” Anatara Chairman and Co-Founder Dr Mel Bridges said.
“We look forward to delivering on the enthusiasm and faith investors have shown in supporting the company and its planned future. The fact that the lead compound is derived from pineapple stems, a natural and safe resource, and addresses a significant area of unmet medical need, seems to have resonated with investors,” Dr Bridges added.
Anatara’s lead product, DetachTM, is a non-antibiotic therapy to treat and prevent diarrhoea. The company is focused on commercialising DetachTM initially for use in pigs, ahead of expanding its use to other livestock, and then developing it for use in humans.
Health authorities around the world are moving to limit the use of antibiotics in animal production as their overuse contributes to the rise of antibiotic-resistant bacteria, so-called superbugs that threaten human health.
Anatara’s objectives include:
- Registration of DetachTM for use in pigs in Australia and the European Union
- Registration of DetachTM for use in pigs in the United States
- Development of DetachTM for humans
The IPO was led by Wilson HTM with co-manager Peloton Capital and legal advisers McCullough Robertson.