The equity raising involves a $101m placement and a $20m entitlement offer
Lander & Rogers has assisted ASX-listed biotech company Clarity Pharmaceuticals with a $121m equity raise.
The funding effort was split into a $101m placement and an entitlement offer to qualified shareholders that generated $20m.
According to the firm, this is Clarity's first capital raising since its $92m IPO in 2021.
The proceeds from the raise will back R&D efforts as well as clinical trials of Clarity’s therapeutic and diagnostic products in Australia and the US.
“Radiopharmaceutical companies have been at the centre of some of the most significant biotech deals over the last 2-3 years”, Lander & Rogers co-lead partner David Morris said. “Demand for new drugs and diagnostics continues to grow, and companies like Clarity are innovating at a remarkable pace, which is fuelling interest from investors. We anticipate considerable deal activity in this fast-growing and rapidly consolidating sector in the year ahead”.
Morris led the Lander & Rogers team alongside David Tink and Simon Davidson. They worked with lawyers Edison Ponari and Annabelle Gray.
