Anti-Aging Company Exopharm Plans To Raise $7 Million Through IPO

Exopharm Limited is an Australian Regenerative medical biopharmaceutical company which is having a clear purpose of bringing a new type of potential regenerative medicine into clinical use to treat health span related medical conditions. The company was founded in 2013 by Dr Ian Dixon to potentially increase health span by using exosomes which are nano-sized vesicles ranging from 30–400 nanometer in size. Exosomes are known for facilitating various key cellular functions; and with this backdrop, Exopharm intends to commercialize exosomes as therapeutic agents by conducting clinical studies in a number of medical areas. The company is further developing exosomes manufacturing technology to support the clinical studies and future sales and support scientific and research activities. Currently, the company is having a license for its exosome extraction technology and a Melbourne plant where it can make exosomes for research purposes.

Exopharm is also the owner of a patent-applied-for technology called LEAP (Ligand-based Exosome Affinity Purification) that could potentially solve the purification problem and with LEAP the company is planning to manufacture exosomes to enable studies in humans for age-related conditions.

Exopharm issued its Prospectus on 6 November 2018 and as per the prospectus the Company is seeking to raise approximately $6 million (Minimum Subscription) through the issue of 30 million New Shares under the Offer, with capacity to accept oversubscriptions of up to a further $1 million (before costs) through the issue of an additional 5 million new shares. The Price per New Share under the Offer is $0.20. As per the indicative timetable of the prospectus, the offer is going to open on 14 November 2018 and it will close on 4 December 2018. The new shares under the offer will be issued on 11 December 2018 and shares will start trading on ASX from 19 December 2018. The Proceeds from IPO will give Exopharm sufficient funding to manufacture initial clinical grade experimental product, conduct preclinical testing, and supporting research and development activities.

In FY 2018, the company earned other income of $43,919 via research and development refund claims. The research and development expenditure in FY 2018 amounted to $79,164. The company incurred a loss of $174,597 in FY 2018 against a loss of $565 in FY 2017. The company was having $112,781 worth of total current assets and $215,527 worth of total current liabilities at the end of FY18. Net cash used in operating activities was $93,932 in FY 2018.

The company is not intending to generate any revenue in the near future as of now given the developments in hand. In the initial period, the company will be operating as a biotechnology company with well-defined objectives and activities to bring its technology towards a partnership transaction with a larger biopharmaceutical company. With LEAP and further funding, the company is planning to accelerate its Development Program to potentially bring its products into 2 or 3 clinical areas over the next 3 years with first human use for wound healing anticipated by mid Calendar year of 2019. As per the company’s chairman Mr. Ian Dixon, an investment in Exopharm involves a number of risks which investors should carefully consider before making a decision to apply for new shares. This majorly is weighed towards success on research and development and a significant portion of the funds is indicated for development program only.


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