QBiotics Limited, an Australian biotechnology company of approximately 1,400 mostly retail shareholders, sought to raise $12.5 million by way of prospectus which was oversubscribed.
The Thomson Geer team was led by partners Dan Kramer and Roberta Bozzoli, and assisted by senior associates Ebru Davidson and Madeleine Kulakauskas.
QBiotics Limited is developing a pipeline of promising drugs in the area of cancer and wound healing for both the human and veterinary markets.
The firm’s lead drug, EBC-46, which was discovered in the forests of Far North Queensland has been successfully tested on humans, according to a report from The Cairns Post.
The drug derived from the seeds of the rainforest blushwood tree, which grows on the Tablelands, is hoped to be commercially available in four years.
EBC-46 targets solid tumours and is currently in late pre-clinical development in preparation for a Human Clinical Phase I/II trial with the USA’s FDA. EBC-46 is also in late stage development for the veterinary market through the USA’s FDA-CVM.
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Thomson Geer acted for QBiotics Limited in the biotechnology firm’s successful capital raising.