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Biotech company goes public
A NewLaw firm has advised a drug discovery and development company on its ASX listing and initial public offering.
Emma Musgrave
Firm: Hive Legal (AdAlta Limited)
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Deal: AdAlta Limited listed on the ASX and launched an IPO.
Value: $10 million
Area: IPO
Key players: The Hive Legal team was led by principal and founder Simon Davidson, with assistance from associate Rohila Rahimi and lawyer Mathika Perera.
Deal significance: AdAlta Limited is a drug discovery and development company focused on using its novel technology platform to generate i-bodies.
The unique platform has been applied to the first drug development candidate to treat fibrosis. The company will use its IPO funds to complete the first phase of a clinical study to validate its lead candidate drug, which was developed based on AdAlta’s platform.
“Working with Simon [Davidson], right from the start, meant that we had a clear line of sight on the legal process and the resources and costs needed to achieve the listing,” said Sam Cobb, CEO of AdAlta.
“That clarity is particularly important for biotech companies like ours as we work through the steps on our drug development journey.”
