Telix Pharmaceuticals Limited Successfully Completes $50 Million Oversubscribed Initial Public Offering
(Thomson Reuters ONE) -
MELBOURNE, Australia, Nov. 09, 2017 (GLOBE NEWSWIRE) -- Telix Pharmaceuticals
Limited ("Telix", the "Company"), an Australian biopharmaceutical company
focused on the development of diagnostic and therapeutic products based on
targeted radiopharmaceuticals or "molecularly-targeted radiation" (MTR), has
successfully raised $50 million following the close of its fully underwritten
Initial Public Offering (IPO). The IPO was strongly supported by institutional
investors internationally and domestically, as well as by retail investors in
Australia.
Telix's shares are due to begin trading on the Australian Securities Exchange
(ASX) on 15th November 2017 under the ticker code TLX. The IPO, with a total of
77.0 million shares issued at $0.65 per share, gives Telix a market
capitalisation of $128 million. The IPO was fully underwritten by the Lead
Managers, Taylor Collison Limited and Wilsons Corporate Finance Limited.
The IPO was also strongly supported by existing shareholders, which include both
industry partners and domestic institutional investors such as Acorn Capital,
CVC, Monash Investors, Viburnum Funds, Alium Capital Management and Allan Moss.
Fidelity International is a cornerstone investor in the IPO and will hold
approximately 10% of the issued capital of the Company upon completion of the
IPO.
Telix Co-Founder and CEO Dr. Christian Behrenbruch said the company was
delighted with the strong support from investors.
"We would like to thank both existing and new investors for their support of the
IPO and look forward to sharing the next phase of our journey with our
shareholders. With established clinical data and several well-defined value
inflection points in the coming months, this financing will enable Telix to
deliver significant clinical and commercial outcomes."
Telix Co-Founder and Chief Medical Officer Dr. Andreas Kluge noted, "We started
the Telix journey over two years ago with the goal of creating momentum in a
field of medicine that has great clinical potential but is only just starting to
hit its commercial stride. We have built a company that we believe will have
meaningful patient impact in disease areas with major unmet diagnostic and
therapeutic need."
Proceeds from the IPO will provide capital to fund the development and
completion of clinical trials for Telix's pipeline in renal (kidney), prostate
and brain cancer (glioblastoma), and assist the Company to complete multiple
clinical and product development milestones over the next 24 months.
Telix Pharmaceuticals Limited
Dr Christian Behrenbruch
Telix Pharmaceuticals
Email: chris(at)telixpharma.com
Investor and Media Relations
Kyahn Williamson
WE Buchan
Tel: +61 (3) 9866 4722
Email: kwilliamson(at)buchanwe.com.au
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Telix Pharmaceuticals Limited via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 09.11.2017 - 00:33 Uhr
Sprache: Deutsch
News-ID 567329
Anzahl Zeichen: 3640
contact information:
Town:
North Melbourne
Kategorie:
Business News
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